In the summary, “At some point you have to build a real business, generate real profits, sustain the company without the largess of investor’s capital,” Wilson

In the summary, “At some point you have to build a real business, generate real profits, sustain the company without the largess of investor’s capital,” Wilson said, “and start producing value the old fashioned way.” I do believe a significantly higher proportion of companies today are doing exactly that, and are quite focused on it, whereas they were not in 1999. That's a general and very un-scientific argument for why this bubble (which it still surely is) is not as bad. Sure, some companies have shaky monetization strategies; but you just can't say companies like Uber are not producing value (rumors of ~$10 billion gross revenue).