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Crashing the Party in Silicon Valley

http://dealbook.nytimes.com/2011/06/19/crashing-the-party-in-silicon-valley/

by bakbak • 15 years ago

3 1 15 years ago

DE

dealbook.nytimes.com

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ca136• 15 years ago

If there's a bubble, it's because idiots like this are dumping money into the system. Greenspan and Shiller call it irrational exuberance.

“We are not valuation-sensitive and the traditional community feels threatened.”

“We may be the dumbest guys in the room, but we’re opportunistic,” Mr. Mazzola said, adding that “Felix is Latin for ‘lucky.’ ”

The traditional community doesn't feel threatened by you, they're just smart enough to know that you're driving tech company prices way higher than true economic "value". Which, by definition, is a bubble.

Why do our politicians insist on making things harder for entrepreneurs (ex: immigration) while ignoring market failures caused by idiots like this?

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