It is pretty much impossible for the investment cycle to be perfectly aligned with the value creation cycle. The dotcom bubble laid the foundations for the clou

It is pretty much impossible for the investment cycle to be perfectly aligned with the value creation cycle. The dotcom bubble laid the foundations for the cloud and the modern internet. But keep in mind the valuations right now are nowhere close to the valuations in the dotcom bubble. Compared to back then we are not in a bubble at all or at just the beginnings of one.