To have a bubble you need companies with no clear path to monetization, being over-valued to an extreme degree. This leaves me wondering : what company specifically ? Are they talking about nVidia ? OpenAI ? MidJourney ? Or the slew of LLM-powered SaaS products that have started appearing ? How exactly are we defining "over-valuation" here ? Are we talking about the tech industry as a whole ?
We often invite the comparison to the DotCom bubble but that's apples to oranges. You had companies making social networks for dogs or similar bullshit, valued in the billions and getting a ticker at the stock market before making a single dime. Or companies with outlandish promises such as delivering to any home in the US, in <1 hour, for a low price, and building warehouses by the hundreds before having a storefront. What would be the 2024 equivalent ? If a bubble is about to deflate then there should be dozens of comparable examples.