The concept of a bubble doesn't exist anymore. In the past, investors were way more tuned to value investing. Now days, investors dgaf about value as much as hype. As long as they can generate hype, the money will flow. And everyone is bought into the hype.

And really, overall its not really a bad thing, because money flowing = economic activity. The only downside is the focus of technological progress gets lost in the sauce, with a lot of companies thinking short term rather than actual persistent value.