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Quote:It Feels Like 1998 All Over Again

Signs of a new bubble in Silicon Valley are rising, but whether that's cause for concern is a matter of fierce debate.

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Are we or are we not in an Internet bubble? The debate flares up at industry parties, conferences, and in blog discussions like a never-ending marital spat, dragging in even those who are tired of the question. John Doerr, partner at venture capital firm Kleiner Perkins Caufield & Byers, won't even use the word bubble, preferring to call the late '90s "the boom." Others find the whole discussion counterproductive. "There are lots of people saying: 'Gee, we're busy trying to build real businesses here, and people are wasting our time talking about whether this is a bubble,"' says David Hornik, partner at VC firm August Capital.

But comparisons with the roaring '90s are inescapable. San Francisco's South of Market, or SOMA, district, a barren wasteland after the dot-com bust, is once again bustling with startups, bars, and restaurants...

Quote:If Paul Kedrosky's inbox is an accurate barometer, then the Internet bubble is back.

The venture capitalist blogger told a capacity crowd at the Mesh conference in Toronto this week that all the signs show a bubble is back...

The VC did say that he's seeing "way too much enthusiasm" and typically sees the same business plan at least two or three times a day from different money-seeking Internet entrepreneurs...