Something may burst, but it's not the company that's making money hand over fist
FORTUNE — It’s symptomatic of the delusion that characterizes much of the thinking in Silicon Valley these days that someone could read Chris Dixon’s nuanced “Is it a tech bubble?” post that was Techmeme‘s lead story Monday and turn it into an “Apple is about to burst” screed.
I can practically hear Brian S Hall screaming all the way from Madison, Wisc.
Hall, who writes a blog called The Smartphone Wars that is followed by a lot of tech journalists, has been harping for months on the vast disparity between the recent wave of money-losing social networking start-ups (Wikipedia on Sunday listed 204 of them) and Apple AAPL , which became the world’s most valuable public company by — wait for it — generating huge profits quarter after quarter.
But he goes one, unpopular step further. He argues that the venture capital-funded blogs that cover these start-ups — and get them space on news aggregators like Techmeme — are part of a corrupt conspiracy:
Hall, needless to say, is not one of the bloggers getting funded by Silicon Valley venture capital. Which may be why it makes him crazy to hear his (and others‘) warnings of a growing tech bubble turned on the one company in the valley that’s generating enormous profits: Apple.