Is it over already?
In a recent post on AO, Tony P. says that “Pretty soon, I predict we’ll see one of the well-known, over-funded brands like Technorati, PodTech, or Brightcove outed by a site like TechDirt or Valleywag for having had a major layoff or down investment round. We’ve already seen early high-flyers like Friendster and Odeo stumble and fall, and many more will certainly follow.”
While I agree that the tech sector, and especially the web 2.0 set is due for a bit of consolidation (how many video sharing sites do we need?), I think that a full on, late 90s meltdown is a little far-fetched.
Some of these startups may be over funded… but just think about those big piles of money the VCs were sitting on while the remnants of Bubble 1.0 blew over 🙂
Bill Johnston 