Tech Investors Are Taking Their Cues From Demi Moore’s Twitter Feed

NEW YORK, NY - APRIL 14: Ashton Kutcher and Demi Moore attend the launch party for "Real Men Don't Buy Girls" at Steven Alan Annex on April 14, 2011 in New York City. (Photo by Theo Wargo/WireImage) Photo: Theo Wargo/2011 WireImage

In case the gonzo valuations, explosion of the secondary markets, infighting, and Wall Street's involvement aren't enough to make you question whether we're in a tech bubble, The Wall Street Journal tries one more example: how quickly an Indecent Proposal reference can get your start-up $1 million.

At a Los Angeles "Startup Weekend" in February, Bo Fishback pitched his young company for all of one minute. Its product is Zaarly, a mobile application that asks users to name what they need quickly (from a personal assistant to a dog-walker), then brokers the transaction based on what users are willing to pay.

After the brief presentation, actress Demi Moore tweeted about the company. She noted that "everything has a price!"—a reference to her role in the film "Indecent Proposal," about a man's $1 million offer to borrow a stranger's wife for a night. Within 48 hours, Zaarly raised its first seed round of $1 million.

Too bad the Journal then undermines the bubble scaremongering by revealing that it was Ashton Kutcher and Lightbank, a venture fund created by the founders of Groupon, that invested. It's hard to freak out about a bubble for millionaires.

In Silicon Valley, Investors Are Jockeying Like It's 1999 [WSJ]