.com's are no longer important, blekko, duckduckgo, drop.io and similar companies are proving this. It's not a big deal anymore. Every time I pitch Reward.io I get asked "how will It make money" so saying that profits don't matter anymore is a big understatement in my opinion. New business models are being developed and used to make money like Freemium and more subscription models.
There will always be some startups with over valued valuations but the big thing is startups don't think they are invincible, with Digg and Myspace startups know they could die if they don't work hard and try and find a way to make money, even twitter which has gone almost too far recently with DickBar.
There will always be some startups with over valued valuations but the big thing is startups don't think they are invincible, with Digg and Myspace startups know they could die if they don't work hard and try and find a way to make money, even twitter which has gone almost too far recently with DickBar.