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Silicon Valley's Youth Problem
An anonymous reader writes "The NY Times has an article about the strange cultural rift around tech innovation in Silicon Valley. The companies getting all the press are the ones developing shiny new apps and attempting to reinvent their industry. This attention — and all the money that follows it — is drawing in many young, talented engineers. The result is that getting people to develop needed and useful existing technologies is a harder sell. 'For better or worse, these are the kinds of companies that seem to be winning the recruiting race, and if the traditional lament at Ivy League schools has been that the best talent goes to Wall Street, a newer one is taking shape: Why do these smart, quantitatively trained engineers, who could help cure cancer or fix healthcare.gov, want to work for a sexting app?' This is more evidence that the tech bubble is continuing to inflate: '[I]n the last 10 years in particular, there has been an exacerbation of the qualities for which it's been both feted and mocked: Valuations are absurdly high for companies with no revenue. The founders are younger; the pace is faster.'"
Are you saying that King Digital, maker of the wildly popular Candy Crush Crush Saga (tm)(r)(c) isn't worth 7.6 billion dollars? Surely you jest.
Are you saying that the United States Government, in a pathetic and corrupt attempt to ensure the precious value of the dollar remains somewhat stable, simply prints billions more of it, every month? Surely you jest.
"Value" is whatever amount an idiot is willing to pay for it. No more, and usually much less than the bullshit they're slinging. Kind of like the valuation of both of our examples here.