I for one am sick of seeing, day in, day out, a new start up that has raised 20 million in funding from doing nothing. Also, crazy valuations put on companies that don't turn a profit. Generally in business, a company is worth its annual turnover if a sale was going to happen. How are companies that are turning over 0 worth 15 billion?
I think everyone has forgotten about the .com crash 10 years ago and thats where all this crazy investment is coming from. Google offering 6 billion for Groupon, then Groupon turning it down??
I think the only thing that would not describe this as a bubble, is the exeprience of the last bubble and what it has taught us. We have learned now what the "internet" is. We have learned its boundaries (as such) and therefore we can make a reasonable evaluation on what the next "big thing" is and whether it will all come crashing down.
I for one, slag Facebook off to death. I think Mark Zuckerburg is a robbing bastard that stole someones idea and ran with it himself. The thing is, it's the ideas that he didn't steal that make him and the site brilliant. Facebook too did not have a business model and even after creating the advertisting it did not do much. Now, when Facebook started doing targeted advertising and to a greater extent, the new location based advertising, that's when it became brilliant in my eyes. These non-profit start ups that eventually find a business model that works are where the real treats are and its the fact that these startups are finding a business model that makes this a new era, rather than a bubble.
To coin a phrase, its the face of things to come. "The future internet defined"
Now all I need to do is find a stupidly easy idea and make money from it so I can stop being jealous already.
I think everyone has forgotten about the .com crash 10 years ago and thats where all this crazy investment is coming from. Google offering 6 billion for Groupon, then Groupon turning it down??
I think the only thing that would not describe this as a bubble, is the exeprience of the last bubble and what it has taught us. We have learned now what the "internet" is. We have learned its boundaries (as such) and therefore we can make a reasonable evaluation on what the next "big thing" is and whether it will all come crashing down.
I for one, slag Facebook off to death. I think Mark Zuckerburg is a robbing bastard that stole someones idea and ran with it himself. The thing is, it's the ideas that he didn't steal that make him and the site brilliant. Facebook too did not have a business model and even after creating the advertisting it did not do much. Now, when Facebook started doing targeted advertising and to a greater extent, the new location based advertising, that's when it became brilliant in my eyes. These non-profit start ups that eventually find a business model that works are where the real treats are and its the fact that these startups are finding a business model that makes this a new era, rather than a bubble.
To coin a phrase, its the face of things to come. "The future internet defined"
Now all I need to do is find a stupidly easy idea and make money from it so I can stop being jealous already.