There's a lot of comparing apples to oranges going on here. It's difficult to compare the current state of the world to Bubble 1.0. There's over 5x more users

There's a lot of comparing apples to oranges going on here. It's difficult to compare the current state of the world to Bubble 1.0. There's over 5x more users on the internet now than when the first Bubble hit. In fact, for a lot of those Bubble 1.0 companies, their biggest problem was that they were too far ahead of their time. There's a lot more attention bandwidth now on the internet, which can support higher valuations of more startups. I don't see people moving away from technology in any significant way any time soon. The other problem I see is that people are looking at an isolated outlier and making predictions based on that. If we remove the one 1 billion dollar deal (which looks like it could actually have been competitive with FB and cost FB way more in time/money to compete down the road), we're not really seeing any examples of Bubble like behavior, other than what we should expect to see with a growing sector. Some tech companies are focusing on growth over profitability, with the hopes of being acquired. In almost all cases, those aren't billion dollar+ moves. I haven't seen any broadcast.com like deals. The scale of deals/exits is different now than Bubble 1.0.