1) From a valuation perspective, here are some of the major public tech companies of recent years. If over-inflated valuations are the definition of a bubble th

1) From a valuation perspective, here are some of the major public tech companies of recent years. If over-inflated valuations are the definition of a bubble these are serious red flags. Symbol, EPS, P/E P, -0.24, LNKD, -0.36, Z, -2.05, GRPN, -0.08, ANGI, -0.07, ZNGA, -0.24, FB, 1.00, 81.52 YELP, 0.32, 137.07 KYAK, 0.43, 92.39 TRLA, -1.82, TWTR, -0.98, KING, 1.90, 7.62 GPRO, 0.77, 75.27 ETSY, -1.27, BOX, -1.52, GRUB, 0.36, 103.92 SHOP, -0.28, 2) Ultimately, all economic growth comes from productivity. The major tech companies of now are not focused on productivity - they are social, gaming, and leisure. They generally won't yield the productivity increases of the initial wave of the internet.