Tech stock collapse sure looks like bubble popping

Back in 2001 we saw massive layoffs as companies which had no right to exist went out of business. While I'm sure there's a bit of fat like that around the edges (those "Uber, but for dogs" companies which existed purely out of VC funding), many of today's technology companies are profitable. Those companies are unlikely to need to go through large rounds of layoffs.

If that proves to be the case - we see valuations drop without extensive industry-wide layoffs - I believe that fits more into the "correction" definition rather than a bubble. At least in my mind.

Ie, what's the latest valuation of his three propositions? Though it's still way too early to make any conclusions, as there's still four more years of potential growth.

http://blog.samaltman.com/bubble-talk