Sunday, August 31, 2014

Economy

Wall Street celebrates the best August in 14 years which was right before the dot.com bubble burst. This is not something to celebrate.

Upscale Denny's in Manhattan offering $300 brunch will soon die a horrible death when the bubble pops.

Manhattan condo prices hit record high. They won't last either.

Jessica Alba's diaper delivery company is valued at $1 billion for IPO.
"While today even the pundits are aghast at the latest Snapchat valuation round, which according to the WSJ has Kleiner Perkins inject a laughable $20 million into the private-parts photography service, boosting its valuation to a whopping $10 billion in a clear windowdressing mark-up round, up from $800 million a year ago, even as the actual equity invested into the company is a paltry $160 million or under 2% of said valuation, the true indicator of just how bubbly the second coming of the dot com era has become comes courtesy of none other than Jessica Alba's, yes the actress, own startup: a company launched in 2012 and which makes "non-toxic" diapers (as opposed to toxic diapers?), called the Honest Co., has raised $70 million at a valuation just shy of $1 billion in preparation for an IPO. "
If there was some sort of bubble index, it would be off the charts.

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