Marc Andreessen: 'This Feels Nothing Like 1999'
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While investors may fear another tech bubble, many technology companies are building significant businesses, Internet pioneer Marc Andreessen told CNBC on Friday.
"On the private side, there is a fair amount of enthusiasm, but you know, a lot of these new companies are actually building really significant businesses," said Andreessen, co-creator of Netscape and co-founder of the Andreessen Horowitz fund.
The public market is not as optimistic. With tech stocks on the public side trading at a 30-year low compared to industrials, investors are still hesitant, said Andreessen, a Facebook board member.
"This does not feel anything like 1999. ... I think the tech stock, the public market is still completely traumatized by the dotcom crash," said Andreessen. "I think the investors and reporters and analysts and everybody is determined to not get taken advantage of again, and that is what everybody who lived through 2000, what they kind of remember."
