It is often a sign of a bubble when analysts and commentators rush to explain away each new upward step in valuations – and then come up with expansive arguments to justify why prices should be even higher.
Two events in the tech world in recent days seem to fit this description all too well.
Exhibit A was Facebook’s $19bn offer for WhatsApp. The most striking thing about the reception to this deal was how quickly Wall Street came to feel comfortable about the eye-popping price. There was universal amazement when the news broke, but most analysts quickly picked themselves up off the floor and rushed to explain why it made perfect sense.
- 76Follow up of my post on BIG COMPANIES NOW HAVE A HAND IN THE COLLABORATIVE ECONOMY Here is one picture.
- 74Publicis CEO Maurice Levy's last-ditch offer to let Omnicom chief John Wren be CEO couldn't save the $35 billion deal to create the world's largest advertising company. http://postcards.blogs.fortune.cnn.com/
- 73Greek debt tracker As the government in Athens haggles with its lenders over economic reforms,Greece is running out of money. Here is what it owes in the upcoming months. http://www.ft.com/ig/sites/2015/greek-debt-monitor/
- 72This is a story about ARM Holdings (ARMH), the mobile technology company. But before it gets going, here are a few things you need to know: 1. ARM is a company made up mostly of chip engineers. They design parts of chips—such as graphics and communication bits—and they design entire…