Is there a forming?  

I’d have to say yes – but not the same kind we saw a decade ago when the dotcom bubble burst.   

This most recent spate of bubble babble was touched off by the one billion dollars (it sounds nefarious when you say it like Dr. Evil in the Austin Powers movies) Facebook just forked over .  

No one’s disputing that it makes good business sense for Facebook to buy a startup superstar like Instagram. But the valuation seems outrageously high. Now everyone’s asking: is a billion-dollar acquisition price for a startup – one that’s not even publicly traded — a sign that a bubble is nigh in the startup ecosystem?  

It brings yours truly back to the heady days of the late 1990s. (Okay, I may look 25 but I’m actually old enough to admit I chased Michael Cowpland’s Porsche through the gates of ’s parking lot in 2000 to try to get a real quote from him after he quit as CEO of that sinking software ship. He didn’t give me one.) Back then the bubble involved startups with little or no revenue stream (and sometimes no business plan) doing IPOs that netted hundreds of millions of dollars overnight.  



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