At 25, eBay is a reminder of a bygone internet

eBay is officially old. It turns 25 today, joining the likes of Microsoft’s Internet Explorer and Yahoo, both of which also had their quarter-century anniversaries earlier this year. Like Internet Explorer and Yahoo, eBay is showing its age. But whil...

NASDAQ is Back at 2000 Dot-Com Bubble Level


On Monday the NASDAQ closed above 5,000 points (Nasdaq Composite closed at 5,008.10). It has been almost to the day 15 years that the NASDAQ was over 5,000. Back then we have been at the end of the...

Amazon Posted Its First Profit In Months, but Stocks Fall


Amazon posted results yesterday for its all important holiday quarter. One of the surprising things about this quarter is that Amazon posted a nice profit of $239 million, after several quarters of...

Of Tulips, Twitter And Other Bubble Phenomena


One of the first historically recorded speculative bubbles happened with tulip bulbs in the Netherlands in the 1630s, when intense speculation caused an investor mania for the flower. ...

Bubbles, Banks And Bitcoin


We are used to money being created by the state. Or rather, we are used to money being created by banks on behalf of the state. The state has no direct control over the quantity of money created by...