Bubbles. They arise, in part, from the maddeningly rational human feeling that it makes sense to overpay a little today because, whatever, I’ll just sell tomorrow!
Or, put simply by Gawker’s bubble-dabbler Hamilton Nolan, “Buy! Buy! Buy! Buy! High! High! High! High!”
“Tech startups with no revenue have billion-dollar valuations,” writes our Jim Edwards. “And engineers are demanding Tesla sports cars just to show up at work.”
There are, of course, tangible and empirical ways that economists determine bubblehood, but what fun is that?
Surely the best way to see if we’re in a bubble is to take a look at the anecdotal ludicrous excess of today’s exorbitantly wealthy.
Billionaire Larry Ellison changed the yachting rules to price all the other rich guys out of the America's Cup
Sean Parker had an over-the-top $US5-10 million 'Lord of the Rings' wedding and then wrote 10,000 words defending it
16-year-old 'Desperate Housewives' actress Rachel Fox is making stock trading advice videos called 'Fox On Stocks'
Elon Musk made a drawing of his 'Hyperloop' concept, a futuristic 700 mph transportation system, and the Internet went wild
VC billionaire Peter Thiel gave 20 kids $US100,000 to drop out of college and become 'Thiel Fellow' tech entrepreneurs
There's now a talent agency for people good at Vine, an app that lets you shoot 6-second video clips
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