[PLejeck]

In Web 2.0 the turnover rate wasn't too high and most "services" were toys made in the spare time as a mashup of other services. To think it was a bubble, even at the time, is nonsense.

Today I see a different case: shady accounting practices, lots of companies going from zero to public with little market validation, high customer acquisition costs, and high employee turnover rates (at some companies).

Today I think we're in a bubble, but nobody can say for sure until we see it pop. But if you're smart, it doesn't really matter whether we're in a bubble or not.

Just don't be an idiot and get solid funding now so you have money to float above the failures.