The Coming Crash of 2008?

I hope Greg Linden, who is a sharp and experienced guy, was just in a bad mood when he wrote this ominous prediction about what he sees as a bleak dot com future:

 We will see a dot-com crash in 2008. It will be more prolonged and deeper than the crash of 2000.

I’d have to say I’m not as worried and although I’d agree there is likely to be an overall decline in the sky high valuations of companies like Google, it will be partly offset by the fact that internet advertising is still in an infancy period.   Most internet money comes from ads, and the total internet ad pool is still a tiny fraction of the 500 billion spent per year on all advertising.

What, me worry?