What Damoncali is saying is that the hysteria wasn't focused on particular companies or business models really, it was that people believed we were in the middl

What Damoncali is saying is that the hysteria wasn't focused on particular companies or business models really, it was that people believed we were in the middle of a one of a kind economic paradigm shift rendering valuation concepts like 'profitability' obsolete. "[There is] an increasing conceptualization of our Gross Domestic Product – the substitution, in effect, of ideas for physical value." -Alan Greenspan When you start hearing quotes like that from people in charge, then you know we're really in big trouble.