Just days after the Nasdaq broke 5,000 for the first time since 2000, billionaire entrepreneur Mark Cuban has thrown cold water on the most recent tech boom with a blog post arguing that this one is more fragile than the last
The crux of Cuban’s argument is that in 1999-2000, the bubble was inflated by public companies that at least offered investors some liquidity
From his post on Wednesday:
Back then the companies the general public was investing in were public companies. They may have been horrible companies, but being public meant that investors had liquidity to sell their stocks.
The bubble today comes from private investors who are investing in apps and small tech companies. Read more…