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Did You Hear It? That Was the Sound of a Silicon Valley Wake-up Call

If you were watching Twitter or the television yesterday afternoon — and even if you weren’t — you probably know all about the stomach-wrenching plunge that the major U.S. stock market indexes took. The Dow Jones Industrial Average alone fell more than 1,000 points, or over 10 percent, in a matter of minutes. A rebound quickly followed, and everything from program trading to a “fat-fingered” trader who typed “billion” instead of “million” was subsequently blamed for the fall. But while it’s tempting to dismiss the plunge as an aberration, the bulls — of which there seem to be many in Silicon Valley — would be wise to avoid that temptation, and yes, maybe even get a little worried.

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