Do you have any post on this topic:Bubbles, and how its different than the 1st dot-com? –@eycsound
Definitely not. This is the dream of Internet 1.0 come true. What was that dream? That everything would be available, all the time online, cheaper, and we can communicate with anyone we wanted around the world, and of course, we could have more sex with more people than we could have thought possible.
What’s the proof?
These are not BS companies. Say what you want about Groupon, it is the fastest growing company (in revenues) in history. Say what you want about Zynga it is the fastest growing company (in profits) in history. Say what you want about the “old” dot-com companies: AMZN, EBAY, and lets throw GOOG (which came a little late to the game) and AAPL, they are all near all-time highs in value, revenues, and profits (which sort of suggests that even Internet 1.0 wasn’t a bubble, it was more of a way for the public to play VC. In the VC model there will be zeros and home runs. The public wasn’t used to this, so labeled it a “bust” which it wasn’t really given the number of companies from then that are at all-time highs now, 1000s% higher).
Internet companies deliver value, help the lives of consumers, and make enterprises get their own jobs done cheaper (the true cause for 9% unemployment is that the Internet created dead weight, just like the invention of machinery for agriculture ultimately ended slavery (not to compare slavery for dead weight but the only reason the south was so intent on “keeping” them was because they had no alternative of getting their fields tilled, harvested, planted, seeded, whatever).
Each generation of the Internet will eliminate deeper levels of corporate slavery. Its our duty:
A) To not wonder about boom or bust but take advantage of all the new technologies at our disposal.
B) Constantly seek to learn what they are (I am woefully behind. Already turning into an old man in my young age).
C) To free ourselves from the boundaries we thought possible.
Long live Internet 2.0