I’ll admit. I know absolutely nothing about the business of Major League Baseball (however, rumor has it that at least one person who is a professional on the topic sometimes monitors this blog’s RSS feed). Yet I do know that whenever a story appears about some outlandish-sounding investment in a new Web 2.0 startup, it results in lots of blog posts and financial-media commentary suggesting the inflated investment is a signal of some form of coming “bust” related to new online ventures. For that reason, I feel it’s only appropriate for me (who knows nothing about the business of MLB) to make the unsubstantiated, misinformed, but highly obvious observation that a $126 million contract for a left-handed pitcher who lives in the Bay-area and has the Web 2.0-sounding name, Zito, surely indicates that some type of baseball bubble is about to bust.
(Note: For drive-by readers of this post, it is a refrain of many earlier posts that suggest when rich guys [be they baseball team owners or investors in venture funds that place bets on companies with no revenues] are the only ones writing the checks, any “bust” in Web 2.0 or MLB is going to have little effect on those of us who are limited to booing or cheering from the bleachers — or who provide color commentary from the anchor booth.)