Massive 2006 acquisitions of social sites revived tech industry speculative enthusiasm

Evidence

By 2006, the technology industry was bubbling over with enthusiasm for social-network-site success stories, YouTube celebrities, user-created content, and exciting young entrepreneurs like Mark Zuckerberg of Facebook and Kevin Rose of Digg. Fox bought MySpace for 770 million and Google bought YouTube for 1.65 billion. The enormous valuations of these companies made the financial aspects of interactive technology as attractive as they had been during the late 1990s. — Alice E. Marwick, Status Update, 164

Categorization

• XREF: Connects to other readings about bubble dynamics and the 2008 crash; also a historical anchor for the reader’s influencer/founder content. — connects to: Massive acquisitions of MySpace and YouTube revived 1990s-style internet financial euphoria; Web 2.0 revived tech optimism after the dot-com crash dismantled it — Alice E. Marwick, Status Update: Celebrity, Publicity,…, 54; The Web 2.0 hype cycle promised social revolution and immense wealth. — Alice E. Marwick, Status Update: Celebrity, Publicity,…, 727
• corroborated: 2 independent passages support this claim — Alice E. Marwick, Status Update: Celebrity, Publicity,…, 164

Broader Connections

• Massive acquisitions of MySpace and YouTube revived 1990s-style internet financial euphoria #corroborates (0.95)
• Web 2.0 revived tech optimism after the dot-com crash dismantled it #corroborates (0.90) — Alice E. Marwick, Status Update, 54
• The Web 2.0 hype cycle promised social revolution and immense wealth. #expands (0.75) — Alice E. Marwick, Status Update, 727