Andresson didn't say anything close to "you'll be a millionaire soon [and] so will everybody else." He just said the technology market isn't going to implode again. There's a difference. I think his basic point is valid: that computer technology provides a real and highly valuable service, unlike, say, tulip bulbs. Therefore, while it may be overvalued, there is nevertheless something solid there. Unless you think people are going to stop using the internet soon.