Nick Bilton has posted an article on the New York Times on the possibility of a “no revenue” bubble, which is pushing startups to postpone the testing of revenue models so that early investors can control the valuation of the company. It’s the latest article to make the rounds claiming that there is a bubble, and as of yet, there is no indication that anything is especially different about this one. Except that it’s in the New York Times and Bilton believes the entire industry is based on magic.

[Source: NYT]