Bubble 2.0 ?

Goofy names, retread startup ideas, inexperienced entrepreneurs, free food- the Wall Street Journal does a nice job this morning laying out the gestalt evidence that we are in the midst of a second Silicon Valley bubble.




The goofy-names index, for example, is back near its previous high. Consider Inc., which helps people organize all their Web communications. Or OrgooZipidee Inc., a purveyor of "digital goods" such as cellphone ring tones. "Are these names of dogs or are they names of companies?" asks Kate Mitchell, a venture capitalist in Foster City, Calif. "It is absolutely déjà vu," says David Chao, a venture capitalist in Menlo Park, Calif., who reports seeing lots of bad business ideas, from ever-younger entrepreneurs. "There's just as much junk now as there was in 1999," he says.

They have a few strong points here, but I really think we're not going in a second bubble, the lessons of 99' has been learned, for the most part anyway, but what has really changed is the core value of web based businesses, today its relatively common to hear that a startup has been bought by a big cooperation (Today Google bought Jaiku).
Back then startups Value has been boosted and fueled in a speculative way, that ultimately crushed and burst like a bubble.