Reconsidering the Internet Bubble.
Trader Mike points to a fascinating reconsideration of the famous Internet Bubble from Paul Graham called “What the Internet Bubble Got Right,” which discusses ten conclusions Graham draws from those frothy years.
The money quote:
“When
one looks over these trends, is there any overall theme? There does
seem to be: that in the coming century, good ideas will count for more.
That 26 year olds with good ideas will increasingly have an edge over
50 year olds with powerful connections. That doing good work will
matter more than dressing up– or advertising, which is the same thing
for companies. That people will be rewarded a bit more in proportion to
the value of what they create.”
Highly recommended. Interesting juxtaposition of the timing of Graham's article and this article about cashing in Google shares. [DennisKennedy.blog]