Is it really a tech bubble, or is it something else?

[Commentary] 1999 had a gold rush mentality, a sense of broader mania. This time around you see more of a gross entitlement; and that’s what is different about the Bay Area.

The difference is the scale and scope of everything happening. Back then people would show up, hoping that they could merely participate in this tech-Internet thing. Now, many (if not most) show up expecting millions even if their companies fail. Just sit in a cafe -- any cafe in San Francisco -- and you hear stuff that makes you want to poke your eyes out. Founders, instead of trying to forge relationships, are getting into a pattern of expecting funding without much effort. After all, if it doesn’t work out, no harm done and there is an acqui-hire around the corner. There is an expectation that even if they don’t build an interesting product, they deserve a nice exit for trying anyway: which is troubling as far as I am concerned.

Nowadays, the babble is sourced from blogs; news blogs, expert blogs, investor blogs and founder blogs. The mainstream is once again back chasing the story. The reason why there is a boom in technology media today is because it is THE story. Technology is now part of the social fabric; it is what is causing dislocation. It is the cause of fear amongst all of us. The digitization of our society is a challenge that is both legislative and philosophical. And that is why we are seeing a greater demand for those who cover this industry.