Peter Kafka

Recent Posts by Peter Kafka

Okay, Okay, It's a Bubble! "The Office" Says So.

There’s the public “are we in a bubble” debate, and there’s the private one, where investors tell you what they really think. You should ask some!

But in the meantime, here’s a disturbing indicator: Now network TV sitcoms are parodying the notion of investing in revenue-free Internet start-ups. That’s a market top, no?

NBC really went to town on this one, by the way: There’s an entire mini-site dedicated to WUPHF.com, and it’s really well-done (it also makes more explicit reference to Facebook and “The Social Network” than the allusion in the clip above). Make sure to check out the investor section, which includes this awesome chart (PDF).

The fine print is pretty great, too. I’ve pulled it out here so you can read it:


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work