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Here We Go Again: How to Tell a Bubble When you See One

May 25, 2011, 22:01 (1 Talkback[s])
(Other stories by Andy Updegrove)

[ Thanks to Andy Updegrove for this link. ]

"I remember one 20-year-old Harvard student who graced me with a half hour of his time in 2000. He was making the rounds of all of the top law, accounting and venture capital firms in Boston to decide which ones he would permit to work with his new still-to-be incorporated company. Suddenly, he looked at his watch, and stood up. It turned out he needed to jump on his bike and beat it back to Cambridge or he'd be late for his job in the student center mailroom.

"True story.

"And yet, until last Thursday, there was still one major piece missing, and its absence was keeping things semi-rational, at least back here in the stolid Northeast. That piece was the lack of a clear path to liquidity, because the window of the initial public offering (IPO) market for emerging companies has been closed, or barely ajar, since the Great Big Internet Bubble burst in 2000.

"And then, on Thursday, it happened. LinkedIn went public."

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