What Jason Calcanis said

What Jason Calcanis said: OK, let’s stop the bubble machine right now.”
Observation: I’ve been known to disagree with Jason on occasion, however, on this we agree. Until “widows and orphans” show up betting their pensions on the IPO of some company that is just a mashup with no revenue, we’ve got a long way to go. Despite my preference for the keep-it-small and don’t-take-VC-money for as long as you can approach, I have no problem with all the VC money flowing into early-stage companies. Frankly, that’s the business they’re in and I don’t think they’ll deserve anyone’s sympathy if they one day have to write-off their investment. But VCs and well-heeled early-stage investors losing money is not a bubble busting.
As I’ve blogged before, the least interesting part of what’s taking place now is the investment part of the story. Unfortunately, the flow of investment money is one of the few stories the general business news media (and, unfortunately, much of the B2B media world as well) know how to cover. The “transactions” of Web 2.0 (geez, I hate that term, but I’ve decided to capitulate and use it whenever I need a meaningless term that means everything) are not the story (unless, of course, you’re in the business of covering that facet of business).
Another observation: That said, I do believe there is some “monetizing of eyeballs” taking place. And frankly, that’s not necessarily a bad thing nor a bubble thing.

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