More good fodder for bubble discussions. Assume for a moment that he's right, that “Most of them will be overpriced” and “Some will be huge winners, which will make up for the rest.” This is also an accurate description of the dot-com and telecom bubbles. And this leaves the poster children like Facebook, Groupon, Quora, and now Color.xxx in a very vulnerable position: to sustain their mega-valuations they have to show that they can sustain being so so so much better than everybody else.