Ron Conway: Tech is Nowhere Near a Bubble
One of the earliest investors in tech darlings Google, Facebook and Twitter says any talk of a tech bubble is overblown.
“We are nowhere near a bubble,” says Ron Conway. He most recently invested in Instagram, which Facebook just snapped up for $1 billion.
“The companies getting funded have sales and profits,” Conway said Monday, during a panel on Silicon Valley investing at the Milken Institute Global Conference in Los Angeles.
Conway argues that simply looking at e-commerce shows just how much more money can be created through the web.