by Mark St.Cyr
Over the last few years I have made it abundantly clear that sooner or later it would be shown that the whole Silicon Valley meme of “It’s different this time” (i.e., in regards to unicorns, social everything, eye balls for ads etc., etc.) was nothing more than the equivalent of a teenager’s response of “because” when arguing why valuations of many of “The Valley’s” newest, or trans-formative platforms were clearly not only out-of-whack with reality, but bordered on insanity.
A $BILLION dollars+ in valuation was thrown around as if it was “a given right.” “Who cares if it makes money today” the thinking went. As matter of fact, for many, who cared if it made money ever! It was still worth $Billions if you could get some investors to throw some cash at you, then, with a little bit of alchemy (actually a lot of alchemy) you could take a few $Million in subsequent funding rounds to $Billions and cash out via an IPO. Rinse, repeat.