Tech-sector economics guru proclaims: No tech bubble in 2014
// Ars Technica
It’s become somewhat of a tradition for the tech sector to stop for an hour every year and listen to what former Morgan Stanley analyst and current Kleiner Perkins (KPCB) investor Mary Meeker sees as the important Internet trends of the moment.
Meeker, who delivered her annual internet report at the Code Conference in Rancho Palos Verdes, California, on Wednesday (a day before reports emerged that the US economy shrank last quarter), painted a fairly rosy picture of the current health and future prospects of the technology sector, both nationally and globally. This despite lots of chatter in recent months from the peanut gallery (including Fox Business) that we're experiencing a technology bubble.
In her presentation, which included 164 densely packed slides, Meeker acknowledged that some tech company valuations are indeed high, and that Internet growth slowed to less than 10 percent last year (down from near 20 percent in 2007, and nearly 40 percent growth in 2002). Nevertheless, the signs of a bubble that were present in the late 90s, like frequent initial public offerings and unreasonably inflated stock valuations in the technology sector, are not present today, she said.
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