Steve Blank
OCTOBER 24, 2016
After running Microsoft for 25 years, Bill Gates handed the reins of CEO to Steve Ballmer in January 2000. These misses weren’t in some tangential markets – missing search, mobile and the cloud were directly where Microsoft users were heading. Services (Cloud, ads, music) have a very different business model.
Steve Blank
OCTOBER 24, 2016
After running Microsoft for 25 years, Bill Gates handed the reins of CEO to Steve Ballmer in January 2000. These misses weren’t in some tangential markets – missing search, mobile and the cloud were directly where Microsoft users were heading. Services (Cloud, ads, music) have a very different business model.
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Ben's Blog
JUNE 18, 2011
In the last bubble, the S&P hit 44x in January 2000. So it looks like the market leaders are trading closer to recession multiples than bubble multiples. The cost of running that same application today in Amazon’s cloud costs about $1,500 per month. Currently, the S&P is trading at 22x. What is next?
Pascal's View
AUGUST 21, 2011
For me Bubble will always be inexorably linked to what went down in 1999 and 2000 in the internet sector. Because over 70% of daily trading activity is driven by rapid turnover funds, public market valuations at any given point in time are even less indicative of fundamental enterprise value than they ever have been. It is intentional.
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