I'm not sure I agree with this sentiment, but it doesn't seem to be a typo. If people _did_ think that tech valuations were cheap, then he's saying that would b

I'm not sure I agree with this sentiment, but it doesn't seem to be a typo. If people _did_ think that tech valuations were cheap, then he's saying that would be a sign of a bubble, because it would mean that people think these companies are undervalued [when they potentially aren't undervalued].