Sure sign of the coming ‘bust’

I have been steadfast in trying to explain that “bubbles” and “busts” are cycles in the expectations of financial markets and, therefore, are misapplied when discussing fads in DIY website creation. I couldn’t quite make the leap of applying such a term as “bubble” or “bust” to the current generation of online startups as little or no overhead is required and no widows and orphans are underwriting any unproven concepts (just VCs, angel investors, friends and families — oh, and MasterCard and Visa). However, after seeing the headline on PaidContent.org tonight, HandHeld Entertainment Acquires Dorks.com For $2.5 Million, I have reconsidered my thoughts on this issue. Head for the hills. If this isn’t bust-meat, nothing is. This is the Pets.com of Web 2.0.

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  • staci kramer

    This may make you feel slightly better, Rex — I made a mistake in the amount so the actual total was $1.5 million. It’s been corrected on thsite and, yes, I am having my eyes examined. Still, $1.5 million gives pause … Staci

  • Rex Hammock

    $1.5 million, $2.5 million — for Dorks.com? Does it matter?