I read this article before it was posted and passed it up. Maybe I'm wrong. The flavour of the article smacked of "Boy-band" web company. I didn't realise it was a YC Co. Maybe it's the style of the site it comes from but I would have pegged some of the insights I read as a good example of a bubble in action.
Maybe I'm not cool enough for the tech scene but I'd rather be in the office working on my product than be at the nightclubs partying.