Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies.
I don't think objectively we are in a tech bubble when tech stocks are at a 30 year low.
As the Nasdaq soared in 1999 and early 2000, demand for many offerings far exceeded the supply of shares available at the initial offering price.
Tech stocks are trading at a 30-year-low when compared to the multiples of industrials (companies). It's the weirdest bubble when everyone hates everything.
Jazz musicians don't make any money, so I might as well make some on the market. I pick my own stocks - Microsoft, Dell - the tech stocks, the breadwinners.
I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.
Silicon Valley is way more correlated with Nasdaq than anyone admits.
Tech stocks were the cubic zirconium of the market. They looked good and were sexy, but they just were a way for the company selling them to make money. That's always going to be transient in terms of the stock market. What's real is that companies have to compete. Technology used well is a great tool to enable that if only because most companies dont use technologies well.
Back in the year 2000, most of the Internet companies were not making any money.
