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Will Venture Capitalists Burst the iPhone App Bubble?

The self proclaimed World's Toughest Programmer, Mike Lee, who left Delicious Monster to work on iPhone apps for Tapulous has revealed on his blog that he and the Tap Tap Revenge and Twinkle maker have parted ways, and not on the best of terms:

So it came to pass that when my Engineering and Design team had irreconcilable differences with where the company seemed to be headed, I was asked to make good on those promises. Serving as the team’s reluctant spokesman was not in my best interests, but honor dictated my actions. I delivered the team’s message, and was invited to resign.

And what direction exactly was Tapulous headed? The always outspoken John Casasanta, MacHeist creator and iPhone developer, says:

...we’re about to experience in the iPhone world is going to be a bubble along the lines of the one in the late 90s / early 2000s. The vultures are out and and they taste blood. The iPhone’s one of the hottest things around right now and there’s little sign of its popularity letting up anytime soon. And the venture capitalists want in… badly. The fact that the iFund™ exists is overwhelming evidence of this.

Read on for more after the break...

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