Indeed. We're not in a tech bubble -- we're in a real estate bubble. And as far as the crash of that market is concerned, we're still in the early part of March 10, 2000. The real pain has yet to begin.
The bottom line is that I wouldn't go whistling past the graveyard quite yet. A truly astronomical amount of debt has been accumulated by normal (i.e. not rich) people in the process of puffing up US home values. Unlike the dot-com crash, a worst-case scenario in the housing market wipes out the finances of a huge block of US consumers. And without free-spending, US consumers you can kiss the market for most small internet companies goodbye.
The apocalypse doesn't have to come from within; the people who are worried about a "tech" bubble aren't paying attention.
Re:Bubble Bubble Everywhere
by michelson01 on Tuesday December 04, 2007 @08:43PM
(#86178)
also, with the value of the dollar plunging below even the canadian dollar, the US stock market prices in terms of euros, for example, haven't been climbing that much, iirc (might even be declining?). someone can probably point to a graph of US stock prices in euros, but it's interesting, as i recall.
If Facebook, Meebo, Bebo, Plentyoffish, iminlikewithyou, justin.tv, reddit, digg, Pandora, Last.fm, Hotornot, TechCrunch, PodShow, Boing Boing, Life Hacker, Prosper.com, 43 Things, SixApart, Gawker Media, 37 Signals, Wordpress.com, Scribd, and Zimbra all went out of business tomorrow, simultaneously, we would not see the huge rash of pink slips we saw in 2000. The stock market would not crash because of it.
It's not the same at all. Funny names != a bubble, and neither do over-valuations by private investors, and neither does a lot of entrepreneurs trying to start companies. It's called capitalism. Get used to it.