The signs are all here: There’s now an incubator on every corner, even your uncle is donning angel wings, and IPO expectations for Facebook are exceeding the hype for a new Twilight movie. But that’s all circumstantial evidence. What we needed was some public testimony to really put everyone in the right frame of mind.

Enter our trusted troubadour of bullshit, TechCrunch:

My best guess is that it is about to get crazy. And, only fools sit on the sidelines. Many strong and older entrepreneurs that I know are wealthy today because they made intelligent decisions during the dot-com bubble of the late ’90s. Success was not easy then, and it will not be easy now, either. But, the likelihood of a great outcome is much higher in a boom.

There are a lot of newly minted entrepreneurs that pursue their dream company in a halfhearted way. You may tinker with your idea while toiling at a day job. You may refuse to put in the work required to recruit the best talent. You might be afraid of launching an imperfect product. Or, you may put a mediocre effort into fundraising.

Let me translate: Dude, you’re going to miss riding this bull onto the bubble if you do not get on it RIGHT. FUCKING. NOW! Didn’t you see that someone just made A BILLION DOLLARS? Why wasn’t that you, lazy schmuck? Don’t answer that—there’s no time to look at the past, just quit your job, and come out here to the Valley post-haste. Sand Hill road just scored a fresh load of loot.

Now I get the basic psychology. Someone just won the billion dollar startup powerball and now everyone wants to make sure they bought a ticket for the next drawing. And why not? While the past season of tech IPOs has been full of duds, we still have the big baller Facebook coming up for a shot. And if red 32 hasn’t hit for the last few IPOs, it’s bound to do for this round. COME ON LUCKY 32!!!

But let’s calm down. Sooner or later, the market is going to sort these things out, and all will be right as rain. That’s evident with the Groupon fiasco. They’ve restated their accounting numbers endlessly and the stock has finally tanked. At the end of the day, the rules of accounting will blow through all the smoke and the mirror will show a face with no make-up.

Are you calm? Good. Now get ready to rage right back up. The new JOBS Act that was just passed with the help of a thousand VCs stomping it down the throat of Congress undoes all that. Matt Taibbi from Rolling Stones reports:

Ostensibly, the law makes it easier for startup companies (particularly tech companies, whose lobbyists were a driving force behind passage of this law) attract capital by, among other things, exempting them from independent accounting requirements for up to five years after they first begin selling shares in the stock market.

The law also rolls back rules designed to prevent bank analysts from talking up a stock just to win business, a practice that was so pervasive in the tech-boom years as to be almost industry standard.

Now isn’t that swell. Enable people with an extreme financial incentive to spin the truth, or outright lie about the numbers, a 5-year get-out-of-jail cover, and what are you going to get? JOBS, silly! Duh!

Buckle your seat belt, Dorothy, ‘cause Kansas is going bye bye.