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If it isn't a bubble now, what criteria would make it a bubble? The opening paragraph creates an infallible criteria. It's true that many people thought instag
by johngalt 12y ago
If it isn't a bubble now, what criteria would make it a bubble?
The opening paragraph creates an infallible criteria. It's true that many people thought instagram wasn't worth $1billion. Does that mean $35 billion is less indicative of a bubble, or more? Simply saying 'hah! Bubble predictions were wrong in 2012 because valuations are still rising, so they must be wrong now too.' This sort of thinking would never predict a bubble.
- spiritplumber 12y agoA lot of people who post on my facebook wall seem to think that it's the beginning of the Singularity. https://www.youtube.com/watch?v=IFe9wiDfb0E https://www.youtube.com/watch?v=IFe9wiDfb0E I hope they're wrong if it looks like this.
- eli_gottlieb 12y agoHave you explained what poor suckers they are?
- spiritplumber 12y agoNo, why would I?
- kgwgk 12y agoParaphrasing David Einhorn "thirty-five times a silly price is not thirty-five times as silly; it’s still just silly". It's hard to predict the turning point. Or maybe this time it's different...