It’s an old saying in the stock market that I try to keep in mind as I see a lot of irrational exuberance this time around in the Web 2.0 bubble.

We’re not nearly as bad off as the last go (yet?), but with companies like Agloco getting a lot of press, memories do start flooding back to the late 90s.

A comment in another Startup School thread made me realize something as well:

A 20 year-old startup founder of today (not unlike 22 year-old Facebook founder Mark Zuckerberg) was just 12 when we went through the last tech boom/bust cycle.

There’s something intimately different about living through it once, than simply hearing about “that old Internet bubble of 1998″ from a crotchety old timer who’s in his late twenties.

Post prompted after reading Fred Wilson’s take, Be Fearful When Others Are Greedy.