This will either extend the bubble or deflate it. The
magnitude of today's market folly is far beyond the quaint
tulipomania, 1929, 1980 Japan. Take your scaling and
compute how much revenues are required to be in the near
future to support all of the valuations assigned to Yahoo,
Lycos, Askjeeves, Ariba, Redhat, Juniper, Cisco, ...
ad infinitum. Add it all up and what is the total. Where
will that money, supposedly paid by consumers of their
"service", come from. The required result is many times
the plausible outcomes. Qualcomm will be worth 1000/4
because in the year 200x there will be 3billion cell phones
all using cdma and all paying $6/year directly to Qualcomm.
CROCK! You need to get Sally Struthers working on that one
right away, "please send an extra .20/day so these children
will have enough to buy a cell phone." |
