"Google, which recently surged past $600 a share, is now worth more than I.B.M., a company with eight times the revenue.
"More broadly, Internet start-ups are drawing investment based on their ability to build an audience, not bring in revenue — the very alchemy that many say led to the inflation and bursting of the dot-com bubble."
“'We are almost going back to year 2000 types of errors,' said Aaron Kessler, an Internet analyst at Piper Jaffray. Internet companies 'are buying users instead of revenue and profitability,' he said."
“It’s a screwed-up incentive structure, just like you had in the first bubble”