A NANOTECH INVESTMENT BUBBLE? Some people think so:

One of the valley’s most successful venture capitalists is railing against what he sees as the latest bubble: nanotechnology.

And that has the industry steamed.

Vinod Khosla, partner at Kleiner Perkins Caufield & Byers, has fired salvos at Palo Alto start-up Nanosys, which plans to offer shares publicly but has no revenue for the foreseeable future. He has criticized investment bank Merrill Lynch for hyping the industry just like bankers did during the Internet bubble.

Khosla said he is trying to prevent another bubble, in which public investors get hurt because they buy risky stocks they don’t understand. . . .

Khosla has invested in two nanotech-related companies, Kovio and ZettaCore. But like other critics, he believes companies should go public only once they have a product.

I’ve heard this from some other people myself.