Remember when there were two well-funded start-ups competing to sell you dog food over the Internet?  And AOL could buy Time-Warner?

The good old days of pretend Internet money may be back.  Despite having no revenue, Twitter is supposedly valued at $10 billion.   And Facebook is supposedly more valuable than Ford.

What does that say to you?   It says a new dot com bubble, that's what.    But we remember the bubble bursting and all of the bad stuff.   Before then a whole lot of people made a whole lot of money so if the folks behind Farmville can be valued at $9 billion and Groupon turned down $6 billion ... well, right around the time Facebook does their IPO Science 2.0 is going to do a B round of financing and take over science media.


Pets.com.  Loved the puppet but the business model made no sense.

Yes, yes, as Dominic Rushe at the Guardian notes, the money is still chasing only a few companies but, he also rightly notes, that housing bubble started off in prestige properties first and then spread everywhere.  As long as you weren't a house flipper or an over bidder in 2008, you probably did okay on your home.



Will it end?  It certainly will, as all cycles do, but smart people who are not educated by advertising (or stockbrokers) will be okay.