“the size and scale of these new markets have never been seen before; some of these applications and companies will reach billions of customers, generate unprecedented revenues and profits,”
Statements like that always come with bubbles too. They are necessary, but not sufficient. The old dot com bubble was all about a new economy that defied standard valuations -- so you couldn't apply historical models to new these new "internet companies".
Statements like that always come with bubbles too. They are necessary, but not sufficient. The old dot com bubble was all about a new economy that defied standard valuations -- so you couldn't apply historical models to new these new "internet companies".