So I had this thought that the WeWork IPO that is currently in the process of failing is going to be the thing that people look back on as the moment when the bubble popped.
And I think this because it is showing that there is a limit to how much shareholders are going to fund business models that take a pile of money, soak it in gasoline, and light it on fire Joker-style.
So much of the stock boom we've been in for the past 10 years has been because of the access to cheap/free money. Once there is even the tiniest bit of interest owed on that capital, people start taking a step back and actually do some due diligence.
Is a company that is losing billions with no plan to ever reach profitability worth 20 billion dollars?
And I think the cold logic of the market is finally waking up to that fact.
Edit: I meant WorldCom, not Qualcomm!