Dead 2.0; Funding the Web 2.0 Gravy Train:
And Jobster is just one of several starting to climb up the over-valuation ladder, as we saw Zillow pick up another $25 million recently (total valuation? over $50mil!). Granted they are doing well with traffic (and, as Brad Feld comically pointed out to me in an email “I do think it’s entertaining that they are both in Seattle.”), but with over 100 employees to feed every month, that cash is getting spent! I can’t help but feel that it’s the push to the higher valuations (which are probably caused in part by the MySpace acquisition and FaceBook’s ridiculous decision to turn down ~$800 million, a.k.a, the last offer they will probably get) that will accelerate Mark Evans’ prediction for the coming bust 2.0.
