Loss-making Twitter has been valued at $10bn. Facebook is said to be worth more than Ford. Now, for some investors, the alarm bells are starting to ring. "There are elements out there that are pyramid-esque, Ponzi-esque, maybe even Kafkaesque," she says. "There's a sense that this isn't real money. In the long run, that can't be good." Maybe, maybe not. The sad truth is, we'll only really know that this was a bubble if it bursts.
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