> Every significant technological innovation has been accompanied by an investment bubble This seems like more a characteristic of "winner take all (or most)"

> Every significant technological innovation has been accompanied by an investment bubble This seems like more a characteristic of "winner take all (or most)" capitalism rather than a characteristic of innovation. A new technology potentially creates a new market opportunity and you have everyone bum-rush it as quickly as possible with as much money as possible in the hopes of being the new monopolist. At any rate, this Ellison play wasn't about an innovation. It was about muscling into a mature market he didn't understand (an "eating-the-world play" to use SV lingo).