[JumpCrisscross]

> the AOL buyout of Time Warner

To be clear, there is a world of difference between IPOs and LBOs. In the risk they create. And in the risk they signal.

[mmcwilliams]

That may be the case but the idea that non-technical people didn't pay cash for internet products before the dot com boom is fanciful. I would say AOL's acquisition of a legacy media company did signal the peak of a mania the way these IPOs are.