I've discussed this at length with investors, entrepreneurs, and upper level management at large tech service agencies, and I'm not convinced that there is necessarily a bubble this time around. Accounting for the massive increase in bandwidth, CPU, GPU, smartphone ownership, software development practices, AI logic, and reliance on data compared to that of 1999, it's really a flawed model to draw 1:1 parallels in my opinion.
While there will be a shift at some point away from software/web entities and into manufacturing (to catch up meatspace to webspace), it will be these tech entities that will largely lead the charge, to enhance their own offerings. The example put forth in the article is as flawed as the logic it purports to criticize:
"SAYING WE’RE NOT IN A BUBBLE BECAUSE IT’S NOT AS HIGH AS 1999 IS LIKE SAYING THAT KIM-JONG-UN IS NOT EVIL BECAUSE HE’S NOT HITLER."
Compared to 1999, the value drawn from these companies inside the "bubble" doesn't even remotely exist within the same qualitative and associative parameters.
While there will be a shift at some point away from software/web entities and into manufacturing (to catch up meatspace to webspace), it will be these tech entities that will largely lead the charge, to enhance their own offerings. The example put forth in the article is as flawed as the logic it purports to criticize: "SAYING WE’RE NOT IN A BUBBLE BECAUSE IT’S NOT AS HIGH AS 1999 IS LIKE SAYING THAT KIM-JONG-UN IS NOT EVIL BECAUSE HE’S NOT HITLER."
Compared to 1999, the value drawn from these companies inside the "bubble" doesn't even remotely exist within the same qualitative and associative parameters.