Friday, June 3, 2011

Ghosts of Bubbles Past

Brilliant, and timely:

To highlight this point, consider the absurd example of a Web-based company whose core service is to sell dollars for $0.85 each. This company could obviously achieve record visitors and page views at its Web Site. Revenue growth would easily set records, and it is quite conceivable that sales could reach into the billions within the first few quarters of operation. Apply even the most conservative Internet price-to-revenue multiple to this franchise and we are talking about a multi-billion dollar market cap.

...from 13 years ago. @bgurley via @cenedella

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