Is the Second Tech Bubble Burst Nigh?

Reports warn of a return to 1999-level recklessness

How many doomsayers does it take to kill a party? Last week, as reports poured in showing major first-quarter growth for the venture capital industry and valuations for startup companies soared ever higher, subdued talk of a second tech bubble grew to a clamor.

Foreboding headlines from The Wall Street Journal and USA Today cautioned of a return to 1999-level recklessness. But as former Citigroup CEO Chuck Prince told the Financial Times in mid-2007, months before the credit crisis forced his resignation: “As long as the music is playing, you’ve got to get up and dance.”

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