The company is now valued at less than a billion dollars. Clearly, it's not easy for investors to figure out when to get out, and whether they stand to lose or gain by selling stock in a company shortly after a lucrative debut. And even if does come to an end, something else is certain to take its place. That's the gist of one of the more noteworthy anti-bubble arguments, promulgated by a fictional character. In Kurt Anderson's Turn of the Century , one character says the Internet economy is less like a bubble and more like foam.
Small bubbles arise, sometimes forming into bigger bubbles.
And even though individual bubbles may pop, foam always advances. Whether foam's stock price advances, however, is another story. Wired Digital Inc. All rights reserved.