After Facebook bought Instagram — a company with a semi-non-existent business model — for more than $1 billion, the tech community once again started screaming “bubble” over and over.Marc Andreessen, a partner at Andreessen-Horowitz and a co-founder of Netscape, wants to put that notion to bed. Here’s what he said today at the Wired Business Conference:
If we’re in a bubble, it’s the weirdest bubble I’ve ever seen where everyone hates everything. If you check tech stocks that went public recently, it’s nose down to the ground. We’re now 15 years of flat stock market returns. That’s a weird bubble.