Bubble 2.0 follow up...

I've had some people ping me on the bubble post I wrote the other day, so here's some clarification/etc..

Booms are always followed by busts. It's a natural occurrence. The internet has done nothing at all to change basic economics. Are we at the top of the boom? No, no we're not (and thats where I disagree with Dvorak). Are we heading into a boom/in a boom currently? Absolutely. Will it crash/correct/adjust itself at some point? Yes. I know people like to pretend that we're unlocking unlimited wealth here, but we're not. There will be winners as well as losers. Sorry.
"Isn't there a ton of growth ahead of us in online advertising?" Unbelievable amounts, but you should seek diversified revenue streams anyhow. And just because the industry itself has a ton of potential, doesn't mean that your product does. Don't start spending money you don't have on fancy chairs and pent house office condos. Stay smart/productive/focused.