We are in the stealth mode

Heard this statement from a friend recently. On one hand it sounded so much like 1998 and on the other it surprised me that the guy wont even tell me which sector this company is in. I joked whether this is dough nut company or a chip subsystem type startup. Nopeee can't tell.

Not that I cared that much but I was going on with my curiosity to understand that why would a company tell their employees not to tell others whether they are in soap business or in the laundry business. Is this behavior another indication that the Bay Area is once again moving into an irrational zone. Where the whole eco-system gets most worked-up. Starting with the 101 traffic.