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In reference to the technology industry, "bubble" means stock market bubble -- because that's the kind of bubble that can have a direct, significant impact on the industry. And it did, in the late '90s.

What kind of bubble are we in? A VC investment bubble? The investments that are being disparaged too anecdotal to have a significant financial impact.

Why call it a bubble?



Because there is a huge rise in early-stage investment activity and associated rise in valuations. That's the definition of a bubble regardless whether asset class is stock in startups, public companies, houses or tulips.




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