Despite all the warning signs, it never occurred to me that I was working in a bubble. Until it popped. I don't want to make that mistake again. The three years after the bubble burst were dark, dark times for software developers. Everyone had to scramble to find a place to weather the worst of the storm. And the backlash was severe: rampant offshoring, devaluation of the IT industry as a whole, and diminished salaries and opportunies for everyone.
Seven years later, we're now clearly in the throes of another dot-com bubble. You might argue that the new bubble has been in effect since mid-2006, but the signs are absolutely unmistakable now. The job market for software developers is every bit as hyper-competitive as it was in 1999. The idea that you can found a company on the internet-- and make money-- is taken seriously now. There's a new one every week.
This article is pretty reasonable until he gets to the last part, talking about what Bubble 2.0 is "getting right." Insane speculative stock bubbles don't "get things right" - except occasionally by accident. There is going to be another pop sooner or later. I hope your 401(k) won't be tied to too many dot-companies when it happens.