It depends how you look at it. If you're comparing 2 line charts, tech stocks in 1999 versus now with no other contextual information, then yes it looks like 19

It depends how you look at it. If you're comparing 2 line charts, tech stocks in 1999 versus now with no other contextual information, then yes it looks like 1999. Otherwise, the new wave of tech companies are leaders in highly competitive markets and have some significant revenue stats to prove it. I would only start to get worried if a company like Box had a wildly successful IPO with ~$160m in losses, technology thats relatively easy to make, and lots of competition coming from the industry giants. That would seem bubbly to me.