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Are we in a tech bubble?

With all of the recent massive valuations, hyper PR, etc... I'm curious what the general sentiment is to whether we are in a bubble or not. Note I'm not saying we are not in the same type of bubble as '99, just an economic bubble.

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    Feb 18 2011: We are all that little bit wiser after the bubble of 99, but that doesn't mean that the same mistakes won't be made again. The same mistakes just won't be made by as many.

    For a lot of us,1999 doesn't seem that long ago, but the reality is, is that it is right now, 12 years in the past. There is almost a new generation of Digital Natives, who are smart, but many not fully recall the impacts of that Tech Bubble, nor were they professionally impacted by the devestation. At the time they were minors. One that comes to mind is Mark Zuckerberg. His company has had an interesting run, and its current valuation could be argued as somewhat inflated, and hugely dependant on what this young man has up his sleeve.

    My direct answer to the question, is that I think there are many bubbles forming, different sizes and shapes. Some will pop and no one will notice, and the big ones that do pop, will keep us all talking.
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    Feb 17 2011: I think we're still starting to learn to use technology in our lives, there will undoubtedly increase as new applications in the bandwidth of the telecommunication companies and can offer more quality services we are already starting to get used to using, such as teleconferencing faster, instantaneous social networks, telemedicine, teleshoppping, etc.