Bubble Financing as Survival Capital

"Market bubbles attract a lot of criticism. Actually, smart people can take advantage of bubbles to do many good things, like financing, headhunting and free publicity."

"When a bubble forms financial costs are never priced low because even the most brilliant investors find it difficult to avoid being caught up in the exuberance of bubble markets. They are very close to the stock markets and thus more susceptible to being influenced by market fluctuations. The ability to get financing during a bubble will determine the fate of a business; the valuations will inevitably be high in a bubble market because entrepreneurs never want to lose out."

"when the dotcom bubble burst, we stumbled across the ‘mouse and mortar’ model of online room booking. The last tranche of venture capital funds (from IDG and the Carlyle Group) saved our lives, enabling us to stay in business until we became profitable and then went public, achieving our dreams of glory."