Mark Cuban's writing is just terrible.
No, Mark Cuban, this tech bubble is not worse than 2000
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Re: No, Mark Cuban, this tech bubble is not worse than 2000
#12I would suggest that you are missing the true meaning of "shitting the bed" The entire of finance is linked. Those trading in the normal world of finance typically trade in more than one market. (bitcoin isn't normal, well not until recently, however the total daily trades are tiny) If the entire angel market were to collapse as described it would cause a "contagion" that would whirl around the world. Take for exampl…
Sorry, bitcoin is not now nor will ever be normal.
Re: No, Mark Cuban, this tech bubble is not worse than 2000
#13While I believe the author is correct, I think that the view is somewhat shortsighted. You cannot simply pull a half trillion dollars out of the economy and not expect a ripple effect into other industries. A economic multiplier of 10x brings you into the 5 trillion range, and oh, wait, there is the dot-com boom again. Edit: To clarify, I don't think that a 10x multiplier would be accurate - just trying to show the missing variables.
Re: No, Mark Cuban, this tech bubble is not worse than 2000
#14I would suggest that you are missing the true meaning of "shitting the bed" The entire of finance is linked. Those trading in the normal world of finance typically trade in more than one market. (bitcoin isn't normal, well not until recently, however the total daily trades are tiny) If the entire angel market were to collapse as described it would cause a "contagion" that would whirl around the world. Take for exampl…
I keep seeing the claim that Uber subsidizes the rides, but where is the evidence of that? Every time I see actual numbers, I never see riders making more than what customers pay; from what I can tell, Uber gets a decent commission per ride.
Re: No, Mark Cuban, this tech bubble is not worse than 2000
#15But "we're in a bubble" is seen as savvy while "we're not in a bubble" is seen as naive. Always take the side of pessimism if you want to seem cool and smart.
Re: No, Mark Cuban, this tech bubble is not worse than 2000
#16Mark Cuban: "In the tech bubble it was Broadcast.com, AOL, Netscape, etc. Today its, Uber, Twitter, Facebook, etc." Broadcast.com wasn't Uber. It wasn't even a Groupon
Yahoo bought broadcast.com for about 6 billion. Groupon is worth about 2, so is twitter and yahoo bought tumblr for 800 million. Aol had a market cap around 200 billion.