John Exley, a 22-year-old marketing coordinator, talked about the state of technology with the effervescence of a lottery winner. “It’s electric!” Mr. Exley gleefully proclaimed. “I think we’re only in the beginning of what’s possible with social and mobile and the start-up scene.”
“My bet is there will be a small downturn but it will pick right back up,” Mr. Exley said. “I don’t think it’ll be anything like what I read about happening when I was 9 years old.”
No, it won’t be anything like what happened; it will be entirely different, but exactly the same.
Bubbles happen, but they happen for entirely different reasons every time. As I noted in a recent post,
There is no one, single “bubble”; there are many small, narrow bubbles across a variety of segments. There are many bubbles of interest, activity and value creation in technology and startups across a variety of industries and communities, and probably many mispriced assets as a result. But technology is far too diverse today for there to be any single, all-encompassing bubble.
Unless you want to define and point out specific areas of misplaced attention and mispriced assets among edtech, adtech, cleantech, agtech, socialtech, greentech, govtech, foodtech, familytech, etc., the talk about a bubble is meaningless.
The bubble is already here – it’s just not very evenly distributed.
And for anyone with the strategy, vision, focus, confidence, patience, and ability to navigate the uneven distribution, it’s an amazing opportunity.