When I read articles that include paragraphs like:
The venture capital valuations for still-have-that-new-car-smell startups like Quora, FourSquare, Blippy are reaching unprecedented levels, and we wanted to find out why. Top VCs Marc Andreessen, Ron Conway and David Hornik came by the TechCrunch offices to debate the issue.
Four month old Blippy is worth around $38 million. Quora, still in private beta, is valued at around $86 million in its most recent round. And Foursquare will be worth $80 million or more when it closes the round it’s negotiating now.
-TechCrunch
I am reminded of the short-term memory of investors.
Many of these companies have no formal profit-generating system in place – or even planned. Yet they are valued at millions of dollars.
Does anyone remember the year 2000?
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