If we are, it doesn't look like the first one, and I'm not sure what it "popping" would look like. Startups aren't burning through a few hundred million and sh

If we are, it doesn't look like the first one, and I'm not sure what it "popping" would look like. Startups aren't burning through a few hundred million and shutting down inside a year. There's no mass of IPOs by companies with no revenue and no realistic plan for getting revenue. And I don't see IPOs posting 500% gains on the first day. Airbnb's been around for 5+ years, provides something people want, and obviously has revenue (though I wouldn't know how much). And so far its investors are all VC or private equity, including a lot of VCs who saw the first bubble up-close. Really, are there any funded startups right now without VCs who came out of the first bubble?