17 May Are We Near Another Tech Bubble?
Did you hear the news last week that Skype, the popular internet phone company just got bought by Microsoft for $8.5 billion dollars? Yes a BIG B. Did I tell you that Skype isn’t even profitable yet with losses last year of $7 million. Or how bout Facebook, the social network giant being on its way to be worth close to $100 billion? Or how bout money losing Twitter, the popular social media company worth over $10 billion and the list goes on specifically on hot Internet companies. Do I smell Dot Com Bust 2.0? What happened to Pets.com? Webvan? eToys? They all raised millions of dollars in the late 90’s only to go bankrupt a few years later. Experts say that these new Internet companies are different from their previous counterparts in the late 90’s because they have real revenue and a solid business model. We’ll see what happens. But start worrying if your grandma starts asking you for advice on what Internet company to put her retirement savings into.