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Dot Bomb part duh

Written by David Harry   
Friday, 15 September 2006 09:56

I have been on a rant for a while about some of the crazeeee money being thrown around the social networking world. It was the Google and MySpace deal ($900 Million search deal) then we had earlier this year the NBC goes iVillage ( $600 million) and now Face Book thinks they're worth $2 Billion.

I just know there are Venture Capatalists everywhere smuggly sipping brandy and waiting for the 1st shoe to drop. This is all so familiar to those of us that were building the internet back in the late 90's and early 21st century. The numbers are just to far fetched to be stable in the longer term and viable in anything but the strongest of economies.

There are many grumblings in the real estate and financial sectors to give one pause these days. Worsening problems in the middle east will likely come into play as will the consumer debt load problems that currently exist. The economy seems to be at risk and we haven't had a good recession in a while. Just this morning the auto industry coughed up 14 000 jobs.

The last Dot Com bust was, for the most part, restricted to the tech sector. This time, a weakening ecmonomy would likely cause some of these 'tech' investments to look far less viable than they presently do.

I for one, am watching intently and with a sense of deja-vu



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