Pride Goeth

A significant part of our portfolio is invested in Silicon Valley growth companies, but techies' attitudes may signify that another bubble is forming:

Silicon Valley's superiority complex....is an ugly thing to behold. As the tech industry has shaken off the memories of the last dot-com bust, its luminaries have become increasingly confident about their capacity to shape the future. And now they seem to have lost all humility about their place in the world.

Sure, they're correct that whether you measure success financially or culturally, Silicon Valley now seems to be doing better than just about anywhere else. But there is a suggestion bubbling beneath the surface of every San Francisco networking salon that the industry is unstoppable, and that its very success renders it immune to legitimate criticism.

We're not advocating more government oversight or control of the tech industry, which would make things worse. It would be nice, though, to see a little humility, some self-reflection, and yes, a little maturity. When the next bust happens, Silicon Valley will sneeze, but we'll catch cold. 

As the saying goes, only trees grow to the sky.

Barge under construction: a sign of arrogance, playfulness, vision, or just maybe
Google has too much money than it knows what to do with. (Examiner photo)