It is hard to disagree that there was much irrational exuberance during the Dot Com run-up. Some of the money that flowed into investments for companies with little more than an idea for the Internet or a program that should have ended up Freeware because quite frankly that was all it was really worth, ended up funded with millions in venture capital on their way to a public offering.

Many have said including recently an employee for Deloitte that;