There is no technology bubble

Here’s a funny video originally posted (and sinced threatened and removed) by dailymotion but luckily Techcrunch saved it.  The video begins with Peter Thiel (venture capitalist, co-founder of paypal, and early supporter of facebook) claims there is no technology bubble.  A technology bubble is in reference to the early 2000’s “dotcom bubble.”  The idea is that like the dotcom era, technology will rapidly expand then burst, dropping stocks rapidly.  Following his Thiel’s statement a video rolls with excellent lyrics explaining that web 2.0 companies and applications are raking in the cash and here to stay.