With apologies to Mr. Prince, apparently on the left coast they are getting ready to party like it’s 1999. Again. Or as it was once put, “it’s déjà vu all over again.” Take a look at the article in today’s Wall Street Journal by Monica Langley, In Silicon Valley, Investors Are Jockeying Like It’s 1999.
While the article was right on target, I’m wondering why as a country we seem to be so inclined to go overboard on things. Think the last tech bubble when an investor honestly told me that “the old rules of investment didn’t apply anymore.” Or think of the recent housing bubble when everyone had to own two or three homes and TV shows were all over the “flippers.” Or the derivatives mess a few years previous. Hopefully this incarnation of growth in tech will be something different than the disaster it was the last couple times around and if not, there will be a couple of sock puppets around for people to buy and for those of us in colleges to talk about.