Is It Boom Time Again?
October 27th, 2006
Several months ago (March to be exact), I mentioned a positive feeling in the air. The summer kind of killed my vibe, with the slumping stock market and all, but things have turned around nicely, with the Dow hitting new highs and shrugging off an “October surprise.”
In my admittedly amateur economist ways, I’d been looking for several signs forewarning the next “Web 2.0″ tech boom, several of which have happened. First was the sale of YouTube, which I felt if happened anywhere north of 1.5 billion would vindicate so many startups. And Google did buy YouTube.
Second is the Fed to pause on raising interest rates, and they have done so at this point.
Third, the housing bubble is finally cooling off. I’m guessing there is a lot of cash floating around looking for a home (no pun intended), which might mean a return to equities and the stock market.
I feel the last key is the elections in two weeks. Fiscal responsibility needs to be restored in our government. So I’ll say that if the Democrats are able to gain control of either the House or the Senate, it’s boom time baby. Where did that sock puppet go?
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Posted In: General, Technology
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[...] Here’s some great reading for a post-Thanksgiving, Monday morning food hangover. If you were looking for more evidence that we’re in another .com bubble (something I’ve been predicting for a while), here it is. The article makes many points which are totally hype and ridiculous, if you think about them with any semblance of objectivity. [...]
[...] It seems the price is inferred based on the $1.6 billion that was spent by Google to acquire YouTube. There isn’t even any question anymore whether that amount was too much. It just “is.” And some say $200 million for MetaCafe is a “steal”. So as I predicted earlier, the YouTube sale is already being used as a benchmark vindicating the valuations of many current Web 2.0 start ups. [...]