Sure, that was 100% facetious. And I agree that Joe Schmuck is buying with eyes wide open.
But the underlying point is that the markets are disconnected from reality, and - fair play to them - the VCs are capitalizing on it.
One day I'll actually set aside a few hours to go through a list of all tech companies that IPO'd in the last 5 years, and see which ones have actually made a profit. Gut feeling is that the "flashy" ones are still burning through cash reserves (Asana/Slack/Uber), but the more boring ones (Rackspace/Pivotal/etc) are probably sitting pretty.
But the underlying point is that the markets are disconnected from reality, and - fair play to them - the VCs are capitalizing on it.
One day I'll actually set aside a few hours to go through a list of all tech companies that IPO'd in the last 5 years, and see which ones have actually made a profit. Gut feeling is that the "flashy" ones are still burning through cash reserves (Asana/Slack/Uber), but the more boring ones (Rackspace/Pivotal/etc) are probably sitting pretty.