The issue is more with the median age of a hackernews user, most of them don't really know what happened in the dotcom bust or some of the characters like Meeker and Blodget. I was really surprised to see was hired by a big VC firm. I still remember reading about her in this book (http://www.amazon.com/Hedgehogging-Barton-Biggs/dp/047006773...) where Biggs alludes to her here and there. When a segment is flush with money the standards and ethics are lowered due to the amount of noise. We are seeing this now in the tech industry after the hedgefund bubble burst, although the good thing is that most investments for startups are very small around 300k avg vs the millions and billions when a company with $2mill in revenue went public. I noticed something about snapchat looking to raise $100mill at a $1billion valuation, this is scary and hurts the industry. The VC's that push this valuation will have to answer to their investors when the purge comes.