Yesterday, Fed chair Janet Yellen warned that the valuations of social media companies were too high.
“Equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched,” she said in a report to Congress on the state of monetary policy, “with ratios of prices to forward earnings remaining high relative to historical norms.”
On Twitter, I joked that this would probably inspire venture capitalist Marc Andreessen to fire off a series of tweets. Andreessen is a founder of venture firm Andreessen Horowitz, which invests in social media companies and other technology companies. He’s also on the board of Facebook, eBay, HP, and many others.
He has steadfastly denied that we are in any sort of technology bubble. And he often likes to jam out his thoughts on Twitter in a series of numbered tweets. (People call this tweetstorming.)
He didn’t actually tweet out a big response to Yellen’s comments (yet). However, he did reply to me with these two joking tweets:
Disclosure: Marc Andreessen is an investor in Business Insider.
Business Insider Emails & Alerts
Site highlights each day to your inbox.