Silicon Valley mocks Trump over his tech bubble warning

[WhiteTara]

https://www.yahoo.com/news/silicon-valley-mocks-trump-over-tech-bubble-warning-031459286--sector.html?nhp=1

SAN FRANCISCO (Reuters) - Republican presidential candidate Donald Trump on Tuesday warned that a dangerous financial bubble has formed in the technology industry - and Silicon Valley responded with a collective eye roll.

In a Reuters interview, the New York billionaire said technology start-ups that had never earned a profit were able to sell shares at very high prices, likening the situation to the overheated stock market in 2007.

"I'm talking about companies that have never made any money, that have a bad concept and that are valued at billions of dollars, so here we go again," Trump said.

Many tech watchers have repeatedly warned of a tech bubble as the number of private companies valued at $1 billion or more - known as unicorns - have soared to 163, according to venture capital research firm CB Insights.

So Trump's declaration, in the eyes of Silicon Valley's entrepreneurs and venture capitalists, was nothing new. Investors and others took to Twitter to poke fun at Trump's campaign slogan "Make America Great Again!" by repeating the phrase, "Make Bubbles Great Again."

[Gregorian]

1. When there's no minimum requirement for a job, this is what we should expect.