. >> rose: did it have an impact, impact on john dorr. >> i wouldn't talk job specifically. >> rose: you don't have to. >> a lot of venture capitalists i will give you an example, they wrote offer what is called consumer internet, so consumer internet, so internet companies that sell something to consumer, content -- like 2002 and 2006 or 2007, just simply would hot touch those companies and of course that is when face become started and twitter was started a, twitter started. >> rose: twitter has not gone public. are you saying that, in fact, these companies are undervalued their pe ratio is too low, and if, in fact they had an appropriate pe ratio, their evaluation would be even more strat feefk? >> >> rose: it sound like it. >> you want to be careful, i want to be careful when i second-guess the market because you are with the crowd or -- >> rose:. >> to the extent this last ten minutes you are telling me that the reason that the pe ratios are so low because of an aftermath of 2000, of the 2001 bubble. >> yes so one of two things is true, either i am right about that in which case