Instagram isn't a great example: it was already useful and successful and might well have been worth more if it had held on. GroupOn is a much better indicatio

Instagram isn't a great example: it was already useful and successful and might well have been worth more if it had held on. GroupOn is a much better indication that a bunch of non-technical people are eager to buy overvalued tech stocks. Of course we are in a bubble. Not in the real estate bubble sense, mind you, but in the 1999 tech bubble sense. Tech and health care are the two industries actually growing. Right now no one knows which companies are really creating value and which are just hype. The last bubble created more value than money was invested, but the investors don't discriminate well between valuable companies and those that are just taking them for a ride. That doesn't mean that all the companies are overvalued, just that some of them are. Plenty of companies emerged successfully from the last bubble. Plenty of companies will come out of this one by creating actual value. Just don't be an idiot and invest your money, don't believe companies that tell you they'll get you rich, don't take jobs that seem to be too good to be true, and who cares what investors are doing?