Tuesday, February 01, 2005
Tom Evslin's new blog
Prediction: Tom Evslin, the founder of AT&T WorldNet and ITXC, won't stay "retired" for long. Here's a sample from the first article of his new blog:
Historically, the results of bubbles have usually been more empowerment for more people. Historically, bubbles have provided an explosion of funds which blasted away the entrenchments of an old oligarchy not only to the benefit of entrepreneurs but also to the benefit of consumers in general. Think of the constantly falling price of transportation and communication.Good stuff.
If we should find a way to stop bubbles, if we were to put the genie of irrational exuberance back in the bottle, the winners will be whoever are the incumbents at the time and the losers will be all those who could benefit from another great breakthrough in infrastructure like railroads, canals and the Internet.
Bring on the next bubble. And invest in it at your own risk. I will.
Comments:
Sure, the progress in transportation and communication is good, but such progress also happens without bubbles.
Is there anything good we can attribute to the latest dot.com bubble?
Is there anything good we can attribute to the latest dot.com bubble?
Tremendous gains were made during the bubble. I believe the billions of dollars poured into telecom are seeping back into the public domain. The colllapse was painful, but a lot of what was funded for development came true.
Rational exuberance is an oxymoron. And there is nothing wrong with exuberance - it fuels creation.
Evslin is right.
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Rational exuberance is an oxymoron. And there is nothing wrong with exuberance - it fuels creation.
Evslin is right.
