Jason Calacanis writes:
The real story of Web 2.0 has little to do with the bells and whistles and everything to do with the stunning growth of online advertising. If you look there is a valley between the dotcom spending days (99/2000) and today, but the trend line would be fairly straight if you held a ruler over the 97 to 2006 points–which I do here with the black line.
That dotcom overspend, and the dip after it, shouldn’t have happened. Those swings were due to the emotional roller coaster of the dotcom bubble on the way up, and four huge events after: the dotcom bubble bursting, the accounting scandals, 9/11, and the brief recession caused by those first three.
Is the spike over the past year another bubble? I don’t think so.