The problems in Europe are a more severe weight on the market (whether generally or for tech stocks specifically). By any rational logic, the Facebook IPO went

The problems in Europe are a more severe weight on the market (whether generally or for tech stocks specifically). By any rational logic, the Facebook IPO went well: - the company raised a lot of money at a good price, - the company remains valued at a high multiple (ie, even today valued on the dream not on the numbers), and - I can imagine no better antidote for bubble muppets than the performance of the IPO Bubbles can be fun but they're not healthy. Recent events are far better than a crash. It's just a correction. The emotional hand-wringing will last about as long as it always does, and be forgotten just as it always is. Events in Europe may turn out much more severe than the minor impact to date. And they may not. But that's a bigger concern than the over-valuation of social companies.