Is the 1999 Tech Bubble Back?

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June 19 (Bloomberg) -- Betaworks CEO John Borthwick discusses his outlook for tech stocks on “Bloomberg Surveillance.” (Source: Bloomberg)

More important is the things you have not invested in.

What is the difference now than what we saw in 1999? i went through the 1999-2000 error and i think this is very different.

I think that the scope of the shift is taking place as we move from the desktop to the mobile phone, data into the cloud, wearables and what is the on the phone, there is so much innovation.

In certain areas you see these clusters and bubbles.

We talked about it earlier, but these micro-bubbles, or capital runs into one corner of the room and inflates it and then deflated.

Is the cloud of the nanotechnology, is the cloud in nature of being that in three or four or 10 years?

The cloud is one of those trends that was kind of ill-defined.

We get a tremendous amount of value out of it.

I think that the cloud -- i don't view that as being a bubble.

It is terra firma across all the stuff.

If i say meme, you would slap me.

Guys with english accents get away with stuff you and i can't -- meme.

Cat videos.

You say this is different from 2000. is there more substance this time around, more information, then "wow, there is an internet thing"? let's talk about new york tech back in 1998, 1999, tremendous amount in the capital rates and everything was going to move to the internet.

The company is raised a lot of money and a lot of that was plowed back into traditional media, billboards, advertising, companies that couldn't ever be profitable in some cases.

When you have today is a pre-ipo market where there is a very darwinian process going on where companies that are growing really fast are breaking through and other companies are not.

You are a mover and shaker.

Can somebody in the market have on finance when they acquire shares in facebook -- have confidence when they acquire shares in twitter or facebook?

Getting access to this in the public markets is getting later and later, which is a problem that a lot of people are trying to solve.

Investors are coming into private.

The other thing that is happening is the massive compression you are seeing and the time, that you can get an idea and get it to millions of people's hands.

We launched a new version of our game and that is in the space of 12 days, 8 million people got on the game.

We managed to -- and the version we launched last year it took us three months to get to 5 million people.

We did that in 10 days.

I need to ask you about one of the new tech companies, facebook.

For 30 minutes users worldwide couldn't log onto their account.

Facebook later said they had resolved the issue and are back to 100%. the more interesting number here with facebook is that the #facebookdown on twitter was referenced 49,000 times within an hour.

Twitter is part of the zeitgeist in a way that facebook isn't. it has a connection to existing media that facebook has never managed to get.

It is a tremendously powerful people of the -- powerful piece of the twitter puzzle.

I think there is a lot of headwinds still on twitter.

Key insight from john borthwick, that twitter needs to get it going with apple who could acquire them in some form.

Let's look at the stories that are shaping the news today.

What are you looking at, tom?

The agenda for me is the market, and you have to disaggregate it from the fed.

This text has been automatically generated. It may not be 100% accurate.

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