Welcome home prodigal son. The dotcom bust is immanently back apparently:

“Microsoft agreed to pay $240 million for a 1.6% stake in Facebook, a deal that places a $15 billion valuation on the start-up…The high valuation for Facebook is the latest sign of a renewed exuberance in Silicon Valley over Internet companies with lots of users — even if those users haven’t yet translated into much revenue — and is reminiscent of the Internet bubble that ended in 2000…Microsoft scrambled to keep Facebook from falling into Google’s hands…” (see article)

When the irrational behavior, rationalization and denial are part of justifying valuations, it’s time to throw a party for our not-so-favorite son. We lived through it once, can we do it again?