It's a Bubble, but Not as We Know It.

John Battelle's Searchblog has become a little, er, sparse recently: I fear his other projects are taking up rather more of his time these days. But every now and then he comes out with a wise and succinct discussion of a major issue that makes hanging in there worthwhile.

His piece "Failure to Fail" is one of them, and sums up nicely my own feelings: it's a bubble, Jim, but not as we know it.