[moadeel]

wow, I could not agree more with the writer. Some where along the way, the basic concept of making a profit, and making it fast, and making it within a certain period has simply been erased in the mirage and conveniently accepted excuse of "money will come later." Really, why can't money come now, and how later is later. It seems like, the investors are simply putting money in to reap cash in the next round and walk out while the last person or entity to take on the investment burden (public if it goes ipo) will deal with the massive losses of a business that has yet to figure out it's revenue model. Unbelievable.

[mgkimsal]

Doesn't this sounds like 1998 all over again? I hear all the common refrains about "this time is different! we're not in a bubble!".

Yes, this time is somewhat different (huge number of people on the net - entire generation has grown up wired, etc), but the same irrationality about first movers capturing markets and money coming later that we saw in 1998 seems to be happening again.

[moadeel]

Well I was very young in 1998 - I was too interested in getting my maxpages in top rankings in the maxpage domain :) so i don't know much. But man, this is just ridiculous. Really, $500 Million! $500 Million! for a photo sharing app that has a huge list of competitors and easy to knock off?