I'm really sick of this Chicken-Little-the-sky-is-falling-I-want-to-have-published-the-"it-was-a-Bubble"-5-years-before-the-next-bubble type articles.

Mashable reported that Groupon had $800M in revenue last year when Google offered $6B for them. [1] Taking $1B in funding makes a bit more sense when you consider it's only 1 year's worth of revenue for them.

LinkedIn is profitable before their IPO [2]

Yelp made an estimated $50M last year, and if they play their daily deals program right, they have a chance to make a crap load more money. I'm wagering they are going to be quite profitable before they IPO. [3]

Facebook make $1.8B in advertising revenue alone this year. I'd be hard pressed to believe they aren't profitable. And, since they have heaps of personal data on 1/12th of the world's population, does anyone doubt that Facebook's first 1,000 employees are going to be able to take up sewing blankets made of $100 dollar bills after their IPO? [4]

Now, when growth oriented technology companies have significant revenue streams and/or are profitable, how exactly is it that we're in a bubble?

Nothing to see here, folks. Go back to building companies that print money.

ref:

[1] http://mashable.com/2010/12/07/groupon-800-million/

[2] http://www.sfgate.com/cgi-bin/article.cgi?f=%2Fc%2Fa%2F2011%...

[3] http://www.businessinsider.com/yelps-first-daily-deal-beats-...

[4] http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/01/18/...