I’m a big believer in the idea of a self-fulfilling prophecy–if you think something enough, or talk about something enough, you’ll come to believe it. And maybe even unconsciously let it happen. Alright, I promise I won’t psychobabble but I’ve been doing a lot of thinking about this when it comes to the potential “new tech bubble” everyone’s been writing and talking about.
Lots of companies (or their founders) are getting huge funding. Silicon Valley is hiring. Investors are getting “frothy” and startups are “pivoting.” And yet, I’m not sure why everyone’s having a meltdown about it.
If the bubble bursts (and we really are just partying like it’s 1999) will it be our fault by thinking and writing negatively about our economy actually doing well? I’m certainly not an economist or a VC, but I do know enough about communications and media to see that we’re almost willing ourselves to fail. Why?
Sure, it may seem like we’re inflating fast, but we seem to be forgetting that we just spent the past several years digging out of a fairly deep recession–one that hasn’t ended for markets like housing. I’d be interested in people’s opinions about this–how much of a tech bubble is of our own making?ESO