NBC Pumps Up Fears of another Dot-Com Bubble
âBubblicious. Could Googleâs billion-dollar purchase of YouTube signal another dot-com boom,â asked anchor Matt Lauer as he narrated the opening credits to the October 11 program.
Reporter Carl Quintanilla also suggested that an Internet boom must really be a bubble waiting to burst.
Over an onscreen graphic that read âInternet Insanity: Is the Dot.Com Boom Back,â Quintanilla suggested the Google purchase of YouTube may presage another âdot-com bubbleâ like the one that bedeviled the stock market, and the economy, in 2000.
YouTubeâs purchase âis being compared to some of the big buyouts of the Internet boom of the late â90s and we all know how that turned out,â Quintanilla added ruefully before showing an analyst warning that âwe may be heading down the path towards yet another Internet bubble.â
Some caution may not be unreasonable, but not everyone has as bleak a view of what the Google acquisition portends for the dot-com industry.
âI think some media conglomerates will make small acquisitions and you might see some that make some surprising moves based on the YouTube deal,â David Carson, co-CEO of video Web site Heavy.com told CNNMoney.comâs Paul R. La Monica.
In other words not all future buyouts will be as nearly eye-popping as Googleâs purchase of YouTube, although some companies can afford larger price tags.
Indeed, Tom Gardner of investment firm Motley Fool also told Quintanilla that sites similar to, but less popular than, YouTube may be snatched up by Google competitors but that âtheyâre not going to be anywhere near what YouTube is, nor should they.â
Quintanilla closed his report by conceding that âit will be years before we know whoâs rightâ about Googleâs billion-dollar gamble, but his story was clearly meant to float new fears of a sequel to the Clinton tech bubble.