The question came up at a panel discussion last week: Any chance that a blog bubble could pop? The answer is really easy: no.
At least not an investment bubble. Venture firms financed only $60 million in blog startups last year, according to industry tracker VentureOne. Chump change compared to the $19.9 billion that poured into dot-coms in 1999. The difference is that while dot-coms promised to make loads of money, blogs flex their power mostly by disrupting the status quo.
The bigger point, which is blindingly obvious when you think about it, is that the dot-com era was powered by companies -- complete with programmers, marketing budgets, Aeron chairs, and burn rates. The masses of bloggers, by contrast, are normal folks with computers: no budget, no business plan, no burn rate, and -- that's right -- no bubble.
Link (via Instapundit). Here's a premonition for you: I predict that by the year 2007, The Good Reverend will be slightly more popular than it is now. And that I'll have an office with things like pinball tables and beanbag chairs.
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