Welcome to the calm before the second storm, a sort-of prequel to the next tech bubble burst. Though I'm not the only person calling this before it happens, I did predict that the Kansas City Chiefs, currently sitting at 9-0, would be vastly improved this year (and in my wildest fantasies, a Super Bowl contender). Nostradamus, out.
In all seriousness though, some big social media company just IPO'd yesterday at $26 per share, setting its market value at about $25 billion. The company, commonly known as Twitter, isn't expected to turn a profit for at least a couple of years. And though the shares opened at about $45 per share due to high interest, and spiked to around $50, it's now hanging around at $42.30 per share.
That's not the only insanity pervading people with too much money: an app used for sexting and a money-agnostic scrapbooking social network have each been valued at around $4 billion. Again, none of these companies have turned a profit, nor are they expected to any time soon.