I've noticed in the past month or so that people are starting to get scared that we're entering a new tech bubble named Web 2.0. Everything has been heating up in the past couple of weeks with the Web 2.0 conference along with a number of buyouts (and more, and more) . Kevin Burton stated as much yesterday in "Dot Bomb All Over Again?". I guess I understand how VCs and day-traders would be afraid of another dot bomb, but for the rest of us it should be a party! Let's look at some of the good things the last one brought.
At the start of the first bubble (~95-98 depending on your PoV) broadband was scarce (or nonexistent), information was largely inaccessible, and and stuff was hard to find. At the end of it all we had much better and faster infrastructure, a heaping truckload of information to sift through, and some decent ways to get at it. The bubble was great for people (like me) who were just getting started professionally and had the chance to work on some interesting stuff.
If we are indeed going into another bubble, what can we expect out of it this time? Some of the things I think will be good: More bandwidth! Much much more bandwidth! More information with more ways to organize it! Accessible instantly (within reason) from anywhere and on demand!
I'm guessing the bad stuff will probably be similar to before. Stupid ideas with absolutely no revenue. VCs dropping gobs of cash on the previously mentioned ideas and loosing their asses. Day-traders loosing their asses. People loosing their jobs in the fallout.
Want to avoid it? Don't day-trade, don't fund anything, don't try to start anything and keep your cushy government job. I really don't understand the fear behind all this. I'm excited! I think it'll be fun! Since I don't plan on day-trading, I'm not a VC, and I don't have a cushy government job (nor would I want one), I have nothing to worry about! I plan on starting something, but what's the worst that can happen? I spend too much time working on nerdy stuff and it isn't a success? Hell, I've been spending my time working on nerdy stuff for years, dot-bomb or not.
My advice to everyone who's afraid we're pulling into another bomb is this: Don't worry so much. Just sit back and enjoy the ride.