Something I thought about yesterday, after Tereza Nemessanyi tweeted this article from TechCrunch: Four VC Firms Battle For Foursquare. TechCrunch says Foursquare raised $1.35 million initially, and now it’s going to raise $10 million more, raising its valuation to $60 million to $70 million. I never quite got the point of Foursquare (at least a couple others didn’t either, as I mentioned on the old blog), but the attention it’s getting from VCs now reminds me of the Web 1.0 days of 1999. The recovery rally in the stock market reminds me a little of ‘99 too (valuations aren’t quite at ‘99 levels, but according to John Hussman, to quote one observer, stocks are “strenuously overbought”). The unemployment rate brings to mind 1982 though. I wonder how long this disconnect can continue.
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