Bubbles like the one we have now are not common. It will continue until the Fed takes away the punchbowl, so make hay while the sun shines (and mix those metaphors while the mixing is good.)
Highest paid is fact, one month at a time is opinion.
Yes. We saw it a bunch during Bubble v1.
I thought it was nuts then: Weren't the people/VCs supplying the money paying attention? After a while, you realize that easy money covers up a lot of sins over several levels of the foodchain.
When money tightens, those sins will be expurgated, but until then: Party on.
EDIT: To expand a bit, it's not "normal" as ericflo says in another reply and I agree it's a "bad" sign.
I'm just pointing out that as long as those supplying the money are seeing positive returns, they're busy working their other opportunities. When Sequoia republishes "RIP: Good Times", out comes the microscope on spending and board meetings will go over details that were ignored before.