Ask HN: Are we in a bubble?

Valuations are high. Money seems pretty easy to come by, especially seed money. I'm starting to see lots of people around that "Help entrepreneurs [or startups]" do something. Headlines are becoming pervasive and corporate America is trying to co-op everything startup. I always look to Steve Blank, http://steveblank.com/2011/06/17/are-you-you-the-fool-at-the-table/, and I wanted to know what you all think.