Sign up to receive 5 free days of our daily summary for tech news.

Bitcoin, Unicorns and Why All Bubbles Aren’t Created Equal

The “B” word returned this week. The stock market swooned. Bitcoin tanked. And the world was abuzz with conversations about whether bubbles were bursting—or not.

Against this sudsy backdrop, I reached out to Bill Janeway, who has been studying bubbles as an economist and growth equity investor. Joining Warburg Pincus in the late 1980s, he backed enterprise giants like BEA Systems and Veritas and watched the 1998 to 2000 tech bubble up close.

Ironically, any productive application of the distributed infrastructure is most likely to emerge from the collaboration of large, trusted, visible, regulated partners—big banks and their clients—not from the shadows on the margins of cyber-land. Given the relative lack of leverage in both cases, neither bubble offers any significant, systemic threat.

Matt Greenfield and John Beecroft commented on this article.
Read comments from top tech and industry leaders
Joe Lonsdale
Joe Lonsdale
Founding Partner, Eight
Chamath Palihapitiya
Chamath Palihapitiya
Founder & Managing Partner, SocialCapital
Tina Sharkey
Tina Sharkey
CEO, Brandless
Jonah Peretti
Jonah Peretti
CEO, Buzzfeed
Adam D'Angelo
Adam D'Angelo
CEO, Quora
Brit Morin
Brit Morin
Founder & CEO, Brit + CO
Dustin Moskovitz
Dustin Moskovitz
Co-Founder, Asana
Christina Miller
Christina Miller
President & General Manager, Turner
Max Levchin
Max Levchin
CEO, Affirm
Adam Mosseri
Adam Mosseri
Director of Product, Facebook
Alex Mather
Alex Mather
The Athletic
Martha Josephson
Martha Josephson
Partner, Egon Zehnder
James Murdoch
James Murdoch
Co-Chief Operating Officer, 21st Century Fox
Andrew Kortina
Andrew Kortina
Founder, Venmo
Ben Chestnut
Ben Chestnut
Co-Founder & CEO, Mailchimp
Ruchi Sanghvi
Ruchi Sanghvi
VP Operations, Dropbox
Login or Subscribe to follow the discussions happening here and real-time in our   Slack Community.