You are basically talking about risk vs. reward, and bring up an interesting point. In the original tech bubble of 2000 the broad market ended up participating in highly risky investments without fully understanding the risk because every company was IPOing.<p>It is a much different environment today where the majority of the very high early risk is being shouldered by private investment. IMHO, this is how it should be and in no way is  nearly as bad as the 2000 bubble.