| Online: | |
| Visits: | |
| Stories: |
| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
West's tech bubble is about to burst – top investor
A dot-com bust could soon take place all over again, as a number of tech companies in the West are valued higher than their earnings will ever justify, says a billionaire investor who got rich in the industry.
Many young technology companies valued at $1 billion or more – known in the industry as “unicorns” – are expected to crash soon, Sir Michael Moritz, chairman of Sequoia Capital, told The Times of London on Tuesday. “There are a whole bunch of crazy little companies that will disappear. There are a considerable number of unicorns that will become extinct,” Moritz said.
Moritz was an early investor in Google, PayPal and Yahoo, which helped him to amass an estimated fortune of $2.7 billion. He is now warning that the “euphoric” atmosphere in Silicon Valley is causing “sporty” valuations for “absolutely everything.”
“Even the zaniest ideas can attract money,” Moritz said. “There are some companies that don’t deserve the valuations they have.” …. http://rt.com/usa
Source: http://luismmx.blogspot.com/2015/03/wests-tech-bubble-is-about-to-burst-top.html
