This weekend saw another flame war over whether the U.S. tech industry is in a “bubble” after New York Times reporter Nick Bilton wrote a story about high valuations for companies that have little or no revenue. When a company has no business model, investors refer to the valuation as “mark-to-mystery,” he reported. Instagram is an oft-cited example among bubble-believers, which particularly irks bubble-deniers.
Investor and accelerator founder Dave McClure took special umbrage at the article.
Q: is there a bubble in tech journalism? let’s see… i’m reading more crap than ever, but not paying anyone a dime. A: yep.
— Dave McClure (@davemcclure) April 29, 2012
So where do the web’s pundits currently come down? Read More