And remember when there supposedly was no bubble? How many times did the tech blogs go out of their way to insist that all of this over-investing and overpaying made perfect sense?
Then Facebook went splat and Zynga went splat and Groupon went splat and now VCs are pulling back and nobody can raise money and all those people who claimed there was no bubble are reporting that guess what, something like 2,000 lame-ass companies are going to flame out, but this just means that things are coming back to normal and isn’t it great that the frothy times are over?
But if that’s the case, doesn’t it mean that we were in fact in a bubble back when all those blogs were saying there was no bubble? Apparently the answer is, No, that wasn’t a bubble. That was just frothy.
I’m sorry but the whole thing is hilarious. Or sad. I can’t decide which.
It’s both. Schadenfreude: it’s not just for breakfast anymore. Well played, Dan. Well played.