You misunderstand.<p>&gt; In a bubble there is always someone with a “great” idea pitching an investor the dream of a billion dollar payout with a comparison to an existing success story.  In the tech bubble it was Broadcast.com, AOL, Netscape, etc.  Today its, Uber, Twitter, Facebook, etc.<p>He&#x27;s not saying that Uber, Twitter, and Facebook have no value.  He&#x27;s saying that today&#x27;s startups that are comparing themselves to these success stories are drastically overvalued.