most of the business ideas during the bubble were bad ideas Maybe not most, but a significant number of business ideas during the dot-com boom were ill-conceiv

most of the business ideas during the bubble were bad ideas Maybe not most, but a significant number of business ideas during the dot-com boom were ill-conceived. Profit and sustainability were things that would simply happen as if by magic; the idea was to get a company out there, spend a lot of VC money marketing and building, and the rest would fall into place (as immortalized on South Park by "Collect Underpants ... ... Profit!"). Certainly there are companies today that resemble that M.O. a bit -- Twitter is useful and interesting, but their business model is still a work in progress after years. Most companies today are more sensical, are smaller in size and need less cash. it's much worse than the last one. Valuations are insane You obviously don't remember the dot-com boom. It's not worse; today is nothing compared to the ridiculousness of that era. A scant few companies have valuations that are questionable or appear ridiculous. They may be. But most companies -- the vast majority -- are not operating on crazy valuations. Back then, every company that began with an "i" or an "e" was worth millions, automatically. Today, we have, what, about five that are overvalued? That's a "bubble"? No, that's just exaggeration -- and a wild misunderstanding of what "bubble" means.