Google at 500

I don't get very excited over share prices. I've never owned shares, and as a journalist I don't think I should. But the news that Google's share price has hit the $500 dollar mark, although utterly arbitrary, is as good a moment as any to pause for a little reflection.

There's a nice roundup of fun things to know on Silicon Valley Watcher, which pulls out some interesting graphical and numerical nuggets from other postings, and saves you and me the trouble.

But there's one thing to bear in mind against the background of all this euphoria. Google has become such a bellwether for the Web 2.0 generation, that once its share price falls steeply and significantly, it will take the entire market with it. Don't believe me? Just take a look at what happened when the share price of Microsoft, the Web 1.0 equivalent of Google, crashed half a decade ago: pop!