The big story lately is how tech investment and business is fixing to blow up another bubble, right up to where we were at the turn-of-the-century. Can somebody find that Pets.com dog puppet again? He’s the web-bubble mascot now.
Our latest hand-wringer is Techi.com, saying the tech 2.0 bubble is here. And you know what? Bring it on! Now, why do we say that?
As any economics student can tell you, bubbles and busts are part of any business. One growth and shrinkage doesn’t make an industry very legitimate, but now that the web business world is old enough to start showing some patterns, that tells us that it’s a little more predictable than anybody thought. It’s only the first fall that hurts you.
Bubbles are called that because, as long as you’re on the uphill side of them, you’re going to make money! True, once it bursts, there’s a lot of investors swimming to shore – but for the most part, for the “little” people, the money stays. It’s not like you have to give your Porsche back. In addition, it’s unlikely that the second bubble will burst as disastrously as the first one did. Older and (hopefully) wiser? Perhaps. Are we being over-optimistic? Look at it this way, isn’t a bubble better than slow doldrums?