Here's a quote from an idiotic article in The Boston Globe. If they had called it comedy, I might have let them go. But this dude is peddling the piece as punditry.
The dot com collapse that happened in 2000, something like that has always happened when a new industry is being born, because people are throwing mud on the wall hoping some of it will stick.
This second time is on a surer footing. But there will be pain along the way. Plenty of companies will fail. That is no story. It is just that I don't see an imminent collapse in a year. That I don't see coming.
Exuberance, Not Froth
The Boston Globe: Bubble? What bubble? Things are great. Unless ...: November 2011: Y Combinator, a “finishing school’’ for promising start-ups in Silicon Valley, announces a partnership with Wendy’s. Every Wendy’s restaurant will designate two booths near the bathrooms for tech start-ups. Y Combinator will supply $30,000 to each start-up, with Wendy’s providing unlimited baked potatoes and Frosties, in exchange for a 5 percent equity stake. ....... At the end of the program, Nigerian investor Dr. Hassan Dagogo promises (via a polite-but-urgent e-mail) to support each start-up with a follow-on investment of $500,000, wired directly to their bank accounts. Things go awry, and most entrepreneurs in the program end up living in Wendy’s parking lots.
The dot com collapse that happened in 2000, something like that has always happened when a new industry is being born, because people are throwing mud on the wall hoping some of it will stick.
This second time is on a surer footing. But there will be pain along the way. Plenty of companies will fail. That is no story. It is just that I don't see an imminent collapse in a year. That I don't see coming.
Exuberance, Not Froth
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