As for it being a bubble - would you rather get in now, when (if you assume it's a bubble) VCs and angels are throwing money at people in an unsustainable way -

As for it being a bubble - would you rather get in now, when (if you assume it's a bubble) VCs and angels are throwing money at people in an unsustainable way - or wait a few years until things have died down and they don't have money to throw? With almost any financial transaction, there are ways to bet both sides. With this one, you get in as an entrepreneur - you do a VC round, you tell Google Facebook made you an offer. Now is the time. Next year Google might be happy to let people go to Facebook. With stock market bubbles, it's selling short. With the real estate bubble, it was buying default swaps against the mortgage bonds. As VC is by definition a private market, it's much harder to short; instead, if it's overheated, you need to be selling assets into it (which is what taking a VC round is), assets you have to be creating. If you wait for the bubble to burst (and it is a bubble), you might be locked out for years.