Dan Lyons Bloody Predictions


Hindsight is always easy, which makes the first part of this post pretty lame. But the forward-looking predictions are pretty spot on I think.

The closing remarks about the impending crash are what resonate most though:

And now the stock market is hitting all-time highs, and Facebook is trading at 72 times earnings, and Twitter has a $20 billion market cap even though it is losing huge amounts of money, and Salesforce.com has a $37 billion market cap even though it doesn’t have any earnings either, and back in September Marc Andreessen said something about how the market was going to turn and that some of these tech companies were burning money too fast and they were going to “vaporize” and ohmygod a fucking food delivery startup just raised $220 million at a valuation of $2 billion and Snapchat just raised money at a $20 billion valuation even though they have no revenues and the company is burning cash like crazy…

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By Craig Bailey