Chairman Ben Bernanke, 2002
Some interesting commentary today from Google's CEO Eric Schmidt, which appears to reveal that there are people with 1) more clairvoyance than Mr. Bernanke or 2) more undeserved arrogance... history will tell us who is right (again, 1)
There are clear signs of a new Internet bubble in corporate valuations, Google's chief executive Eric Schmidt said in an interview with a Swiss magazine on Thursday.
Asked about the high valuations being put on companies such as social network company Facebook and game developer Zynga, Schmidt said in an interview with Bilanz: "There are clear signs of a bubble ... But valuations are what they are. People believe that these companies will achieve huge sales in the future."
The Wall Street Journal reported on Thursday that Google, Facebook and others have held low-level takeover talks with Twitter, valuing the company as high as $10 billion.
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