Yes - A boom implies the rising valuations are justified. In a bubble the rising prices are based on speculation and hysteria. We are not in a tech bubble that

Yes - A boom implies the rising valuations are justified. In a bubble the rising prices are based on speculation and hysteria. We are not in a tech bubble that resembles the dot-com days. There is a ton of money at the seed and early stage for untested ideas (Color) and many VCs and angels will lose money. But more entrepreneurs will get funded and that instinct to gamble is why America has such a terrific tech sector.