Everyone loves to laugh at the poor little sock puppet, but the truth is that the tech bubble that is inflating right now is far worse than the Dotcom bubble of the late 1990s. The following are 14 facts about the current tech bubble that will blow your mind…
#1 In just a few days, the Twitter IPO is expected to raise close to 2 billion dollars even though Twitter actually lost 64.6 million dollars last quarter and has a long history of not being profitable.
#2 It is being projected that after the IPO Twitter could have a market valuation of more than 13 billion dollars.
#3 Twitter is not expected to make a profit until 2015 at the earliest.
#4 According to CNBC, Pinterest is currently valued at 3.8 billion dollars even though it has never earned a profit.
#5 Yahoo paid more than a billion dollars for Tumblr even though Tumblr’s revenues are so small that Yahoo is not even required to report them on financial statements.
