Tech “is where smart money went after houses went out of style a few years ago” and, for now at least, “there are plenty of insane ideas still getting funded.”
But “we’re in a bubble and the market is overheated. That’s not disputable.”
Says who? A contributor to StartupsAnonymous, where the brains behind startups can tap the collective wisdom of their peers. PandoDaily’s publishing particularly insightful posts from the site every Wednesday.
The author of this particular StartupsAnonymous post says he’s a “grandpa … old enough to know people who lost huge amounts of money” in the dot-com boom and bust of 1999-2001.
But mainstream media talk of a new tech bubble forming “doesn’t mean we don’t have a few good years left before lean times set in,” grandpa says.
Even when money becomes harder to come by, grandpa predicts investors and big conglomerates will continue to fund startups, because it allows them to outsource research and development. “Big money,” he says, will always be willing to “give some dollars to a bunch of 25-year-olds who only have Macbooks and a prayer.” Source: pando.com.
