Bubbling Up to the Surface ...
Today Richard McManus of the influential blog RreadWriteWeb (RWW) asked if we are in the midst of a technology bubble like the one that arose in the early 2000's as copious sums of money chased the illusive dot-com IPO, driving prices ever higher in a cyclone of speculation. When that bubble burst it left thousands of businesses in ruins, threw tens of thousands of people out of work, and caused hundreds of millions of dollars to evaporate. Are you thinking what I'm thinking? That the Bernie Madoff-unregulated derivaties-subprime mortgage crapfest of the last few years makes the fallout from the dot-com hysteria look like a week in Cabo? Ole! But back to our question. Are we really in the midst of another bubble? Equally influential blogger Om Malike weighs in here on his blog GigaOm. Finally, I've read several pieces around the Web in which authors are cock-sure that we are not in a bubble.
So, what do I think?
I say we're in the midst of an unustainable bubble that will hurt the economy even more.
Unless I can make some money speculating on up-and-coming companies.
If that happens I'm sure we're experiencing a true economic force for good.
