"This chart is fascinating.
Highly speculative periods are characterized by investors trying to find novel reasons to explain the uniqueness of the current situation, frequently attributing the existing bubble to emerging technological advancements as a justification for frothy valuations.
Notice, that is not to say that these new advancements won’t be pivotal for the economy in creating new opportunities.
However, if you ask me, these unrealistic expectations have gone beyond reasonable bounds.
Credits to Kevin C. Smith, CFA for providing such an insightful historical perspective on how today's tech companies at their current prices appear to be way ahead of themselves."