Googlescape



Forrester's George Colony has a good piece on the irrational exuberance surrounding Google's IPO.



"What It Means No. 1: Google will take a lot of capital south. And this makes the company an awful first IPO for a reviving tech equities market. It will all feel very familiar: over-excited investment bankers pumping air into the offering; a gullible, breathless press; cheering venture capitalists led by the teflon Kleiner Perkins; and thousands of actual users of the technology that will tee up their broker to get a piece of the "New eBay." What the world needs now is a calm, ordered, rational, smart equities market in technology -- not overpriced froth. Google at a $6 billion valuation would be great. Google with a cap north of $15 billion blows in the stench of Bubble II."



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