OK, it’s plainly obvious that this video is linkbait but it’s so good that you just have to fall for it. Many people are saying we’re in another Internet bubble. With valuations like $15 billion for Facebook (a company that has yet to make a profit) and other companies paying billions for untested ventures, it’s not hard to see why people are thinking Bubble 2.0.
To celebrate this second golf rush on the Internet, and it is a gold rush for many people (myself included), The Richter Scale created this video done to the tune of We Didn’t Start The Fire. The Internet boom has a way to go before this bubble pops so now is a good time as any to get on that money train!
Source: TechCrunch
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Thats what Im talking about.
lol, why cant facebook make any profit? and why would it be considered such a high estimate?
Says who facebook can’t make any profit? Maybe they are yet to be making “the real money”.
Tho I like the song and the video
“here comes another bubble…”
That’s a good point. Who knows, maybe the internet still has major good times ahead. But the idea that we really are sitting on another bubble is scary. Especially for those of us who haven’t made our millions yet!
Or those who are close to it…
facebook will be the next google … and google is the new microsoft ( doing too much thing at the same time) and web 2.0 or web 3.0 is where money will come from
Same thoughts…In the end who ruleS?
No facebook won’t be the new google. But it will be up there. I do agree with google becoming the new microsoft but i think apple already took that one. I don’t know mabe google is the new apple.
They are currently with many advertisers
Thankyou John.
That was so funny
Rough times after bubble 2.0!?
That video has a quick screenshot of a page with all of the logos for these new million dollar website properties. Just looking at them all you have to realise that there are simply too many, nobody has time to use all of them.
When one company figures out how to conquer what many other companies do well in one application… the sheer number of new internet companies will fall quickly imo. Today, a company like classmates.com gets an IPO, tommorow a “class mate finder” is a part of every site and classmates is done. Today, a niche service like entrecard or blogrush is doing well, tommorow every site has such features integrated.
We’re in the time of new ideas but old and very proven methods of assimilating them all are happening right now (and quickly). I suspect the next bubble bust won’t be a bust, it will be a company successfuly merging many ideas into their own more global vision.
Great comment. Friends Reunited was pointless once I could find all of my friends on Facebook and message them without paying a fee.
I wonder what will become of blogging software when you consider that many of the networking sites provide blogging features for free? I think there may be a shift soon…
Blogging software isn’t going anywhere, why? Because it, and open source software in general, allow the regular weekend webmaster to create a website that is competitive with the best sites out there… given the right amount of optimizing of course.
Sites may WANT you to blog on their domain name but its common knowledge that to get anywhere on the net, you need your own domain, your own brand, and full control!
Actually, it’s Myspace and Youtube and Google and facebook etc that are scrambling to get open source code users to create applications (apps) for THEM now, talk about a reversal! A million people working on a piece of open source software is far more competitive than even the most expensive Google created version.
If you think about it, millions of people working on software like wordpress or phpbb is a true threat to even the most deeply funded websites. Its no wonder they are trying to lay the groundwork for us to create things for their platforms instead of creating our own.
Those rich kids are making all of us jealous. They have ideas and the ideas is fresh in term of money value.
Even John Chow can’t cater all the market and not as successful as the kids.
Bubble 2.0 will be dedicated to those kids. The mastermind of this game will be someone who are rich billionaire.
Our company try to find a market niche but afraid to invest due to lacking in knowledge in term of the new era of internet boom.
Is not that we don’t want to take the same train but i tell you what when it comes, it comes
Internet 3.0 will be even more kid oriented.
Great comment indeed.. Btw. Can anybody guess who that company would be ?
I think it starts with a G and has a lot of OoOoOoOoOo in it right?
Funny video. Reminds me those days of internet bubble when I switched my major from civil engineering to computer science. Then I had to wait 2 years to get a job maintaining website for a shoe store. Hmm… Changed my life though.
Lol. Thats pretty funny. But i would have to say you are probably better off now.
It’s like the california golden rush, well it’s always like this I think, but this time you don’t have to crush stones and sweat you just do what you like to do.
Like GemViper said It’s a matter of having a good idea.
John, how much time you think we have till the next bubble? And why is it everyone is trying to make the “bubble” seem inevitable?
Because of what happened in the late ’90s. There isn’t going to be another recession that drastic again.
Facebook’s making an estimated $2 million per week. I’m fairly certain they’re turning a profit.
Not if they are paying out as much as they are getting in. It must cost a bit to run a site like Facebook.
You read it wrong. Facebook is burning $2 million per week. But that’s OK. They have over $300 million in the bank thanks to investments from Microsoft and others. It will take them a while to burn through that.
How the heck are they going through that. I’d love to know what YouTube spend too.
R&D, ad servers, and most of all are the MBA meetings etc
OK, my numbers were off, but they’re not losing money.
“Facebook could be worth as much as $6 billion today, Bear Stearns analyst Robert Peck says. He expects privately held Facebook to post a profit of about $30 million on revenue of $140 million this year, and register a $70 million profit on revenue of $358 million in 2008.”
Source: http://www.usatoday.com/tech/techinvestor/corporatenews/2007-10-02-facebook-suitors_N.htm
Facebook and their new advertising system isn’t so hot. So i think it will take about 2 years at least to post a profit.
Facebook is still privately held and don’t have to disclose anything to Robert Peck. Those are his estimates only. I would be shock if Facebook is in the black. If you’re posting $70 million in profit for 2008, why do you still need VC money?
Golf rush!
I noticed that too.
I want to rush to the golf course too 
When does bubble 3.0 come out?
Haha. That was great John. Pretty cool video. We better get off our butts before the bubble pops!
perfect song for the lyrics, that was freakin great, great video mr john chow, thxs for sharing.
That video is classic! However, bubble or not, indicators are predicting a slow down. I think bloggers could take advantage by writing about ways to profit in a recession
Ah, that was simply great John. Indeed, the “golf rush” is on!
Shine on,
Aaron
Oh, and LOL @ 1 min 40 sec.
Damn coooooool video. I loved that line “babies blogging in the womb”
LOL! Great Video!
I wonder when will the bubble explode this time…
Love this video too. already post it on zedomax.com
This just rocks… blue shirt khaki pants….
That’s a great video. I saw it the other day and shared it with some coworkers who all loved it. Guess you had to blog about this song.
One thing I have been thinking about with this is if we do so a bubble pop with the current trend how do you position yourself to withstand the downturn. I’m sure the answer is to diversify your streams of income, but perhaps the Mogul could offer some advice on this subject since you have already been through this once according to your eBook.
Bruce
Facebook not in profit… I didnt knw that….. They have some 50 million+ members and they are selling ads… still they are not making any profits?
haha it had me LOL… literally. My wife goes “the the heck!?”
I need to work on my burger flipping skills…again.
For VCs it’s all about cashing out as quickly as possible, only the IPO has been replaced with the Google buyout. It’s the only way that these deals will profit. Who buys a privately held business at 10+ year valuation of it’s income?
As we learned from the previous tech bubble proprietary IP and a room full of servers isn’t enough to pay the bills when things go south. The only subtle difference that may save the little guys is that the adsense / adlink buyers are also (generally) little guys. None of us are banking on someone buying a $20,000/month banner ad campaign for us to stay in business.
Get in now! I am in
I loved this video.
I think I ended up watching it about 3 times hahaha.
Hilarious video! Really funny, and the music is great. However, I agree with you: there is so much more money to make on the Web before the bubble bursts… but I don’t think it will ever burst! Great post John.
That’s all kinds of awesome.. Thanks for the share!
True….many of these companies are seriously overvalued and it’s the big companies like Google and Microsoft buying them out
Love this, I think I need to have a kid and make him/her sit at a PC until they make me a WEB3.0 company.
Talk about a pushy parent!
I have a hard time following comments in johnchow.com
Normally I come back to read readers’ comments every few days. But the layout made me confuse which comments I have read.
I hope Billy Joel got some royalties.
I couldn’t watch the dam video. It was taken down.
Yahoo has it, is a great Vid.