It will collapse for the same reason. The USSR was propped up by the central planners at the politburo, and silicon valley is propped up by the central planners at the Federal Reserve. Sooner or later that bubble is going to pop, and their valuations are going to be set by what they produce for the market, instead of by asset bubbles.
Also, information technology is radically decentralizing every industry very quickly. When I was a kid, there were 3 TV networks - ONLY, and a handful of large newspapers. Today there are billions of internet forums and video sites, all the legacy media companies and newspapers are going bankrupt. In fact, part of the reason why Silicon Valley decided to jump in bed with the state is precisely because they want mommy government to protect them from that mean ole free market.
It will collapse for the same reason. The USSR was propped up by the central planners at the politburo, and silicon valley is propped up by the central planners at the Federal Reserve. Sooner or later that bubble is going to pop, and their valuations are going to be set by what they produce for the market, instead of by asset bubbles.
Also, information technology is radically decentralizing every industry very quickly. When I was a kid, there were 3 TV networks - ONLY, and a handful of large newspapers. Today there are billions of internet forums and video sites, all the legacy media companies and newspapers are going bankrupt. In fact, part of the reason why Silicon Valley decided to jump in bed with the state is precisely because they want mommy government to protect them from that mean ole free market.