Does it come as any surprise to anyone, that the social networking site Plaxo is putting itself up for sale? Does it sound awfully familiar, that the fad in one social networking site fades after being overtaking in fad ratings by some other, making no profit, having no business models, and it's now decided that it's worth $100 million? Perhaps only those investors who have poured in more than $20 million since 2001, have the illusion that it's worth that figure. But hey, these are a well-connected bunch; who knows, these investors might be able to get the next stupid guy to put up with it for $500 million.
And for the younger generations to move in and out of something - anything - in internet speed, I wonder out loud if even 0.01% of what is started out there is going to survive it, let alone make it big. Perhaps that would worth hundreds of millions in investment, hoping that they would hit a jackpot like Google. Perhaps these "investors" (or VC or whatever) know something that we don't?!? :) But I doubt it. All these guys, after making boatload of the money selling "vaporwares", are just taking the shotgun approach to finding startups to invest in. I consider these people to be lucky (to have made it out before the tech bubble burst). I definitely do not consider them smart.
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