Cisco's Chambers: Let's Party Like It's 1999

Cisco CEO John Chambers is not normally an effusive sort. So when he tells an analyst conference that broadband applications have "put the 'whoopee' back into the Internet," you know there's a sea change going on. Chambers' let-the-good-times roll outlook is based on the growing use of broadband-heavy applications such as video, VoIP, and gaming. He says Cisco should be able to maintain a growth rate of 10 to 15 percent per year.

Even more startling is his projection that overall network and Internet traffic may see an astonishing 300 to 500 percent yearly growth over the next 10 years.

Chambers is right, and adding to that growth will be ubiquitous, wireless Internet access as well.

But here's hoping that we don't re-visit the Internet bubble of the late 1990s. I'm not sure I'm ready for any more multi-billion dollar business plans based on selling dog food over the Internet -- and gullible investors willing to buy in.

This time around, let's let the good times roll, but without the hangover.