Very true. The IPO market has almost dried up (at least compared to back then). But the M&A market has almost replaced that. See Facebook's $19,000,000,000 acqu

Very true. The IPO market has almost dried up (at least compared to back then). But the M&A market has almost replaced that. See Facebook's $19,000,000,000 acquisition of Whatsapp. It's a little like the housing bubble. As long as I find someone who'd pay me even more than I bought something for, everything goes well and dandy and no one asks about the real value of a product/house/company.