All About Content

Om Malik, in a March 20 blog post titled Social No-Working, writes, “not a day passes when we hear about a new social networking company stake its claim to be the next MySpace.” His reaction to a recent slew of news regarding yet more social networking sites enjoying large rounds of funding: we’re in the middle of a “Social Networking bubble.”

People who have little or no handle on consumer are getting funded, or offering funding. Designing high-end switches and getting kids to switch from MySpace - two entirely different tasks. Anyway this insanity is understandable. WSJ has an article about start-ups getting showered by money, some getting unsolicited emails from VCs offering barrel loads of cash. The trend “absolutely harkens back to the bubble days” of 1999 and 2000, Tom Blaisdell, a general partner with DCM-Doll Capital Management, tells the WSJ. I let him have the final word on this.

PS: In case you were wondering when there will be a market top — look for a journalist quitting his job to start a social network!

The post includes some comments from the very entrepreneurs Malik is criticizing. Interesting stuff. Think he’s right about the bubble?