Re: There is a huge bubble
3rd AC here. Not the downvoter, but if you look back 20 years, valuations were insane then as well. Any company that was a ".com" had stock snapped up by retail investors. Business model? Who cares, it's an Internet thing, traditional metrics don't matter (narrator's voice: "but they did").
Companies like Cisco were overpriced, but at least they made something that could be sold.
Tech bubble aside, there's a lot of boomers that will be pulling money out of the stock market in coming years, wondering how much of an effect that will have. A large outflow during a downturn could be a wild ride.