Someone - a very wise, very successful someone - once provided a pretty good definition of a bubble. A bubble is when the fundamentals are right, but the timing is wrong.<p>For example, let's consider the most recent housing bubble. The housing bubble was predicated - at least in the beginning - on the fact that populations are growing, but land mass (and livable land mass, at that) remains constant. If we work under that assumption, land is at a premimum, and therefore _in the long term_, it can only go up. However, the problem is that too much happened too soon, and it created artificially high prices.<p>The tech bubble of the 90s was largely similar. It was a case where any retailer could chuck a .com at the end of their name and make millions. The fundamentals, however, were largely correct. I do almost ALL my big-ticket purchases online. Amazon's online retail presence is huge and pervasive.<p>I believe we MAY now be in an "information bubble." This isn't the .com bubble of yore. Rather it is a battle for your information. Facebook's got a nice chunk of it, as does Google. Instagram had a nice chunk of your photos. Essentially, information is at a premium right now. To what end? I suppose that remains the deciding factor on whether or not we are ACTUALLY in a bubble. If the information can be monetized then perhaps what we are seeing is simply the markets catching up to the tech trends. Eventually it will slow down - but that's entirely different from a "pop."<p>The alternative to the above is that people start to realize that the information isn't wholly reliable, and can not be converted (easily - for now) into revenue. In that case I'd expect there to be a correction at some point. But I think the fundamentals are sound. Information is the currency of the future - especially as we become more and more connected.