I was not commenting on whether or not it is wise to spend billions to acquire company A or B or C. That is a separate question from the question of whether tha

I was not commenting on whether or not it is wise to spend billions to acquire company A or B or C. That is a separate question from the question of whether that behavior indicates a bubble. And like I said previously, it depends where the money comes from. If it is mostly debt, then it probably is a bubble. But if it is mostly Google's, Facebook's, etc insane profits, then it probably does not indicate a bubble.