Many have speculated that a new Internet bubble is forming. Of course, bubbles build and then burst with no warning, sometimes leading to a loss of 99 percent of equity value. That is not likely "this time around," as firms generally have some basis in revenue reality.
But whether you think a new Internet bubble is forming, or not, valuations and interest are much higher than at any point in the last five to 10 years. So we are likely to see a rush to go public. Inevitably, insiders will do well. It isn't so clear how well the public investors will do, given the passage of some time.
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