Bubble, toil and trouble – Are we approaching tech bubble 2.0?

Companies that have never generated any profit are still raising millions. Are we approaching tech bubble 2.0, asks Ian Vella.

Friday, March 10, 2000 was a black day for technology companies. The Nasdaq stock exchange opened as usual at 9am but the outlook wasn’t looking good. In fact, stockbrokers were already expecting a disastrous day as in the preceding week, hundreds of tech companies had started going bust. Many 20-year-olds, who were already millionaires after setting up their companies in Silicon Valley, had already moved out of their multi-million properties and were back to where they had started: a room at their parents’ house.

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Ian Vella