Following a beat-and-raise quarter last night for online software vendor Salesforce’s (CRM), the rewards are not what you might expect, with the shares down $11.60, or 17.8 percent, at $53.73. The company’s forecast for a profit of 34 cents to 35 cents for the current quarter, excluding its cost to acquire privately held Instranet, was unimpressive to the Street.
Maybe two years ago, I hosted a panel discussion on the emerging Web 2.0 economy, and I asked my panelists if we were in a bubble. Because it’s clear to me that we are. Not that it’s a bad thing, mind you. This is how technology evolves: like life itself, in blooms and crashes. And I think we should all acknowledge where we are in the cycle. Anyway, one of my panelists, SoftTech venture capitalist Jeff Clavier, was adamant that this was no bubble. Now Mr. Not-a-Bubble is trying to convince start-up companies that their income, if it’s in the $300,000-a-month range–a range that most companies made up of three guys and a credit-card-funded Amazon S3 account would kill for–is “noise” that distracts them from their potential.
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