1996 All Over Again?

We are roughly 16 years past the "Internet" explosion of 1996, the subsequent investment bubble and roughly 10 years past the "Internet meltdown" of 2001. But things are stirring, suggesting we are about to enter yet another big wave of Internet innovation, with the likely over-investment typical of a bubble.

Some might note that in January 2011 Goldman Sachs valued Facebook at $50 billion. Some 30 to 90 days later it is being valued at $60 billion, while similarly rich valuations are bandied about for firms without a sustainable revenue model, at least not yet.

Kleiner Perkins Caulfield Byers partner Mary Meeker has been noting for a couple of years that the "next wave" of computing is upon us, with a new roster of leading companies likely to rise as well.

The point is that 2011 seems to be a sort of "1996" moment, when a wave of investment, and over-investment, occurs. But if it "feels" to you like there is quite a lot of innovation occurring, you are right. There is.

1996 All Over Again? - Thoughts on Carrier Evolution - Carrier Evolution