This obviously has enormous implications if you're an entrepreneur.
I think we are only in trouble is we do not ride the tech bubble for what it is worth and presents.
The tech bubble success comes and goes. It blows up and then grows again. I believe there is no other cause than true internet marketing and social media.
If people engage others in their social media, the tech bubble will never burst. Obviously, that did not happen in the early 2000s.
Depending on wht you mean by "tech". In a broader definition of technology - of course we are not! Technology is what moves the progress and it would not burst...
But if you mean the narrow understood IT obsession - it is clightly inflated. I am afraid people sometime forget that most of the Internet, social media and 'apps' are just the tools to accomplish something, to solve problems or 'do a job'.
In any case I think we are pretty safe for quite some time yet as not that many ventures turned up to be full of air so far (but if investors money will become more freely available - we will see more of those in the future).
Who is 'we'? And yes, you are always in a bubble, and so am I, since your brain can't comprehend more that around 150 connections.
I believe 'preaching do your own choir' could be very helpful in the beginning of your product development. Once you get traction, you can start shaping it into a more 'mass attractive' version.
My idea is, we are always in a bubble, so we might as well use it wisely, because that is a place we know very well.
And every now and then take a trip to a place that you feel very uncomfortable with can be an insightful experience and open yourself up to a lot of new opportunities.