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.
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]
