How do you when you’re in a bubble? Perhaps when one of the industry’s key proponents says we are. In a blog entitled “The Web 2.0 World is Skunk Drunk on Its Own Kool-Aid,” Steve Rubel (Edelman PR exec and Micropersuasion blogger) opines that things have gone too far: “Many people I know, love and respect are heralding every new site as like it’s Jes.usR.com. No one’s casting a cynical eye anymore. No one’s looking at valuations and reality – or at least very few people are.” He bemoans that the thirst for changing the world and creating value has gone and now it’s just about “chasing the almighty dollar.” Lots of his readers agree with him.
In a similar vein, John Heilemann of New York Magazine takes a New Yorker’s look at Silicon Valley and its bubble here. His conclusion: “Well, maybe it is a bubble. But out in Silicon Valley, they don’t think of that as a bad thing at all.”