An Extremely Rational Bubble

techcrunch.com

18 points·zher··5 comments

Good article by Alexia. Like previous "RIP Good Times", it will spread doom and gloom. I wish this wasn't made public (as PG meant to send it to YC companies only). It will create unnecessary problems. Investors are aware of FB IPO. They know the implications. But the "business insider's" of the world will rehash this letter into 10 different posts for linkbait. And my non-techie family and friends will make my life harder by asking all sorts of questions. Not to mention, startup employees, who will little disturbed because their jobs are at the stake (in case of layoffs if startups don't raise money).

I'm glad it was made public, and I assume PG knew it would leak when he wrote it.

If it hadn't been made public, it would have circulated among an existing group of insiders, including investors, but not amongst those looking to build new startups. That wouldn't be good for anyone.

Plus, if nothing else, wouldn't PG want his next batch of applicants to have this in mind when they apply?

I think that the real story is, "Listen to industry gossip". Everyone here thought FB was overhyped. Everyone here think that things needed to come down a bit.

VC is going to get harder to get (thanks to a certain serious longitudinal study, the Kauffman report, not a single bad IPO), but costs are going down as startups get leaner. More value will be created, not less.

Perhaps some good points were in there, but they were too deeply buried under her grating writing style and overuse of sarcasm. She could have talked more about Greece and written something of substance but instead she decided to go with this obnoxious stream of consciousness.

Oh, TC still exists?

Reply on news.ycombinator.com