Key quote: “Lots of founders today weren’t around in 1999 and they don’t know a thing about financial markets beyond what’s happened in the last 24 months,” Mr.

Key quote: “Lots of founders today weren’t around in 1999 and they don’t know a thing about financial markets beyond what’s happened in the last 24 months,” Mr. Gurley said in an interview. “To them that’s how this game is played, money is cheap and everything goes up. That’s why we have cycles.” If it takes a dot-com 2.0 crash to weed out all the frothy optimistic-but-useless startups and drop housing prices back to normal instead of $4,500 per month in SF/NYC, it's probably worth the economic hit.