Facebook has been valued at 60 billion dollars by Goldman Sachs. Tweetdeck was acquired by Twitter for 40 million. Silicon Valley companies pay millions to hire new software engineers. Is this what the second coming of the dot-com bubble looks like?
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Skype's record sale, the new round of investments in social media companies and rumors about Facbook's public offerings recall the high times of the New Economy. In the 90s, a big bubble ended the internet optimism. Could it be different this time around?
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The rise of social media has led to the emergence of a few companies that wield enormous influence - and have the potential to reap in the benefits of innovation. The current hype is no bubble but a sign of the importance of the internet industry for the 21st century.
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The logic of the social media market: Have an idea, expand quickly, and monetarize it before imitators arrive. Investments and values reach unprecedented heights. All ingredients for an unwanted bubble are there.
