There was a good quote on Pando about who lost the most in the bubble - it wasn't tech, it was telecom by a long shot. All their income looked real - it was pro

There was a good quote on Pando about who lost the most in the bubble - it wasn't tech, it was telecom by a long shot. All their income looked real - it was providing a real service - but a few levels of indirection down the line it was all broken. I'm not doomsaying, but if there's a big movement in anything it tends to have weird action at a distance.