It’s a local boom, and it’ll be a local bust, predicts The New York Times. We’re seeing mind bending sums for acquisitions, fat IPO valuations, VC’s throwing money at startups, and the “cultural afterbirth of all that cash” – the HBO show, medieval-themed weddings, office ball pits. “Meanwhile, the rest of the country slouches along, unemployment high, wages stagnant, credit tight.”
A tech bust would hammer our local economy, but not the broader US economy. Here’s why: “Most Americans have little interaction with the big-money, small-jobs technology boom,” says the NYT. Facebook and tech giants may be overpaying for acquisitions, but regular joes have not bet the mortgage money on the next hot wonder company.
Photo credit: Flickr / Peter Thoeny
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