Silicon Valley has always had boom/bust cycles. What's happening now is part of the same pattern that has been going on in the Valley since the '50s. Yes, we'r

Silicon Valley has always had boom/bust cycles. What's happening now is part of the same pattern that has been going on in the Valley since the '50s. Yes, we're in a boom. But because the last boom created a stock market bubble, it's temping to assume that boom==bubble. I don't think that's true in this case, as bubbles have a significant psychological component that I don't see in the current boom: http://en.wikipedia.org/wiki/Economic_bubble#Social_psychology_factors http://en.wikipedia.org/wiki/Economic_bubble#Social_psycholo...