Fortune magazine, ever servile, provides a ready platform for the powerful with something to say. The latest on stage: Jim Breyer, the Accel Partners VC with a seat on Facebook's board. Breyer has a fair point: We may be seeing the cyclical bursting of another Silicon Valley bubble. Breyer says this happens once every seven years, roughly. But his timing is suspicious. Last October, Breyer gladly took Microsoft's bubbly $240 million for a microscopic stake in Facebook. Declaring the bursting of a bubble now may help hasten its advent, and in the process, make it harder for Facebook's rivals to raise money. But for Fortune readers' tech-stock portfolios, an early warning might have been more useful. Why didn't the magazine ring him up last fall? Fortune never mentions this. (Illustration by Sean McCabe for Fortune)

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