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Lots and lots of people in the valley and elsewhere were wary of a bubble '97-'00. We used to talk about it all the time. That didn't stop it from happening.
by trotsky 15y ago
Lots and lots of people in the valley and elsewhere were wary of a bubble '97-'00. We used to talk about it all the time. That didn't stop it from happening.
Mr. Horowitz needs to ensure that in the next few years he can sell on the public market stock they've been paying increasingly higher premiums for privately.
It's clearly in his best interests to dismiss any bubble talk.
- emmett 15y agoThis is a purely ad hominem argument. His arguments can be assessed on their merits, you shouldn't dismiss them because of who he is. And his central point seems to me to be pretty good: in a bubble like the 97-00 bubble, you'd expect newly IPO'd tech stocks to be soaring, not sinking. It doesn't appear that's happening. There's a different question which is whether two or three specific companies (Facebook, LinkedIn, Twitter) are overvalued right now. But even if they are, that's not really evidence of a tech bubble unless tech stocks in general are overvalued.
- adw 15y agoAlso: early stage investments are more aggressive than ever right now. The sums of money are relatively small, as are the number of market participants, so the risk of contagion isn't big in a macro sense, but it's potentially a real thing...