‘Partying like it’s 1999’
Andrew Wilkinson in a fascinating comparison between the height of the dot-com bubble in 1999 and the current state of startup valuations:
This time it’s a little different. Most of these companies have some revenue. Some even have a little profit. Fewer companies are rushing to IPO, and instead staying private for longer. But in many ways, it’s starting to feel like we’re partying like it’s 1999. We may not be there yet, and it may not take the same form, but something is most certainly brewing. As Mark Twain once said, “history doesn’t repeat itself, but it does rhyme”.