Sounds like a bubble to me. Anybody remember the pets.com sock puppet?
I'd think that on the one hand, too many articles like this could begin to have a negative impact on the startup industry. Or, that reporters might handle their reporting a little more honestly if they got slapped for going in with a strong, conscious bias to begin with. On the other hand, it might just stir up more trouble and negative attention.
- Steve Jobs
http://www.wired.com/wired/archive/4.02/jobs_pr.html
The depressing reality in this case is that someone figured out that what sells newspapers to a mainstream audience isn't stories about cool new technology, but stories about conflict. It's why newspapers separate the technology section out from the main news section.
Conflict is what made "The Social Network" such a great movie. The story isn't about social networking, it's about manipulation, ruthless ambition and betrayal. Themes that are as old as humanity itself.
As an aside, I doubt pg will get into a pissing contest with some journalist, as that wouldn't help himself, his reputation or YC. There is nothing to be gained by going to "war".
EDIT: Grammar
The Journal is an institution, the reporter is just a person. Criticize the Journal and they will all have her back. Criticize her politely, calmly, but from a prominent platform... and her fellow reporters will wonder whether she might be screwing up the Journal's reputation, and internal pressure will be applied. Funny how that works.
Reporters self google more than anyone else alive and have remarkably thin skins given how much they dish out.
The Journal might retaliate by sending a sleazeball reporter like Pui Wing Tam (who went to the extent of stalking Benioff) to write a hit piece, so be prepared to go to war if you do this.
http://www.appleinsider.com/articles/11/04/18/new_macbook_pr...
Having a huge tech company producing hedge-fund like growth numbers is a new phenomenon (at least since Windows 3.0), and it's carrying over into the broader tech field. If you're a wealthy investor with the choice of putting money into some financial vehicle in an increasingly crowded space, or into something that actually ships product, and still makes huge bank, the choice is a no-brainer.
Tech is the current momentum play, because all the financial vehicles are in the tank.
You're linking to a rumors site which is citing speculative analysis.
Assuming that's true (I don't follow the markets well enough to have an opinion), wouldn't that present a fairly spooky economic future? I can't imagine a single market would outlast all the others tanking for long.