For the most part I totally agree. Rampant speculation combined with a fiat currency and too loose regulation is how we got so much money sloshing around, a def

For the most part I totally agree. Rampant speculation combined with a fiat currency and too loose regulation is how we got so much money sloshing around, a deformed market, and this economic crisis (and a near collapse of the financial system). We've gotten too far away from fundamentals. We also see this in startups. For example, I totally agree with Mark Cuban who laments that modern founders often look at valuations, and indeed raise lots of capital, for possible IPOs without even discovering how to profit a single dollar.