We are in a global asset bubble, not specifically a tech bubble. People like to highlight tech valuations because the general public is familiar with the companies.

Click Bait Headline: "COMPANY WITH NO PROFIT WORTH $1.5 BILLION, THE END IS NIGH!"

The valuations are divorced from the future earnings of most of the companies, but so are real estate prices in many cities around the world. So sure, we're in a "tech bubble" but its all part of a shared economic fantasy so it probably doesn't matter.