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"Photo: designbeep.com\nFORTUNE &amp;#8212; It&amp;#8217;s symptomatic of the delusion that characterizes much of the thinking in Silicon Valley these days that someone could read Chris Dixon&amp;#8217;s nuanced &amp;#8220;Is it a tech bubble?&amp;#8221; post that was Techmeme&amp;#8216;s lead story Monday and turn it into an &amp;#8220;Apple is about to burst&amp;#8221; screed.\n&amp;#8220;You can&amp;#8217;t trust those P/E and other calculations when companies like Apple amassed their incredible valuations and profit margins only over a couple years,&amp;#8221; wrote a video-blogger nicknamed Charbox in one of the most recent comments. &amp;#8220;Those companies can collapse again just as fast.&amp;#8221;\nI can practically hear Brian S Hall screaming all the way from Madison, Wisc.\nHall, who writes a blog called The Smartphone Wars that is followed by a lot of tech journalists, has been harping for months on the vast disparity between the recent wave of money-losing social networking start-ups (Wikipedia on Sunday listed 204 of them) and Apple \n\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\tAAPL\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\n\t\t\t, which became the world&amp;#8217;s most valuable public company by &amp;#8212; wait for it &amp;#8212; generating huge profits quarter after quarter.\n&amp;#8220;The insiders are funding companies whose explicit purpose is to be acquired,&amp;#8221; Hall wrote on Sunday, &amp;#8220;Not to build a business. Not to generate revenue. Rather, to expose a potential weakness in a company that has money and do everything they can to talk up that weakness so their little app, business model or service gets bought up. With a lofty valuation.&amp;#8221;\nHall doesn&amp;#8217;t have to mention the most glaring example &amp;#8212; the $1 billion Facebook is said to be spending to acquire Instagram. Everybody in the business knows what he&amp;#8217;s talking about.\nBut he goes one, unpopular step further. He argues that the venture capital-funded blogs that cover these start-ups &amp;#8212; and get them space on news aggregators like Techmeme &amp;#8212; are part of a corrupt conspiracy:\n&amp;#8220;The *entire* reason for rich, 1% insiders in Silicon Valley to continuously pour money into select blogs, which have no hope of ever providing a semi-decent return on the investment, is so the blogs, acting as PR, can talk up the latest and greatest app or business or the hippest, sharpest line-up of investors behind Insanely Great New Product X.&amp;#8221;\nHall, needless to say, is not one of the bloggers getting funded by Silicon Valley venture capital. Which may be why it makes him crazy to hear his (and others&amp;#8216;) warnings of a growing tech bubble turned on the one company in the valley that&amp;#8217;s generating enormous profits: Apple."^^<http://www.w3.org/2001/XMLSchema#string>
<http://fortune.com/2012/04/30/what-does-all-this-bubble-talk-have-to-do-with-apple/?source=yahoo_quote>