Market is running, is there a bubble about to pop? Is this similar to the dotcom bubble?

Market is running, is there a bubble about to pop? Is this similar to the dotcom bubble? Do you know people in the market are talking about similarities between 00:03 and what's going on today? 00:04 Do you see any similarities or do you think something like that's going on? 00:10 Well, first things first. I lived through that. 00:15 I lived through it. Yeah, I lived through it. 00:17 I was a little kid, first time in industry after investment banking at the time and I worked in tech at the time. 00:25 And I was in the thick of it. 00:27 And from how everything's crumbling down, 2000, 2001 happened. 00:32 And anyway, do I think it's the same thing? 00:34 I personally don't think it's the same. 00:37 You know, of course, I can point to some people like the Tom Lees and the Ed Yardeni's of the world that believe that the S&P, you know, might be 8,000 by the end of the year. 00:46 The reason I don't think it's the same is because the glass half full people, you know, the bulls, they believe that it's not the same. 00:54 The biggest difference in what's going on right now in the market, although the markets are going up, it looks like a bubble for me. 01:00 Why do people think there are similarities? 01:02 Because it just goes up, up, up, up, up. 01:04 It's similar to 99 when the dotcom craze happened where anything with a .com attached to it, the whole market just goes crazy. 01:12 Everything went up. Anything with a .com, it was apparently going to be the next big, the big thing, right? 01:16 You know how that all ended. 01:18 But here's a difference. 01:19 What's the similarity? 01:21 The similarity is the market just keeps running. Are we in the bubble? Are you feeling this bubble up? Nothing's coming down. 01:27 What's going on? The market's kind of ignoring or on the tech side. 01:30 So just because the market is running, people think it's the same. 01:32 It's also similar because this whole new thing, this is what they call the fourth industrial revolution, right? 01:35 And that revolution back then too, with everything going online. 01:40 And now it's like everything going AI. 01:42 So a lot of people talking about the similarities, but the key thing why I don't think it's similar is because the companies now that are running like crazy with multi-trillion dollar valuations today compared to the dotcom. 01:53 Dotcom companies actually have earnings. 01:56 They have a business. 01:57 During the dotcom boom, most of the companies just, it's all about market share with no profitability. 02:03 Some of these companies were negative. 02:04 I worked for a company, I didn't report a profit ever. 02:06 You know. 02:07 So that's the biggest difference. 02:09 You have a profit generating marketplaces right now. 02:11 That's why the market, the stocks are running. 02:14 That's why a lot of the non-contrarians, the people on the bull side saying, hey, this is different. 02:19 Because this is truly the fourth industrial revolution. 02:22 And all these companies running, they're making money now. 02:25 They're already bonafide businesses. 02:27 You see all companies coming back, like even Cisco and Qualcomm, all these companies have been around for eons, right? 02:37 They're coming back because there's a bonafide reason of this whole new industrial revolution that's happening. 02:43 It's not fluff. 02:45 The dotcom one was anything with a .com, everything was going online. 02:50 The whole world was going online. 02:52 That was different. 02:54 The concept was not proven yet. 02:57 Now you have semiconductor companies, you have all sorts in this whole ecosystem that are showing profit. 03:02 They're doing well. 03:03 Someone's buying all the products, right? 03:05 It's not fake. 03:07 You see what I'm saying? 03:08 So I think that's the biggest difference. 03:10 You know, and also the market's like, you know, it's shrugged off Iran. 03:14 It'll go away. 03:15 The market's like, you know, adjusting to higher oil prices. 03:18 And it still feels like earnings are crushing it. 03:21 You look at, you know, earnings runs. 03:25 85% of the companies knocked out their estimates and their forward guidance. 03:30 So showing a healthy base of companies are making money. 03:35 They're doing technically based on the numbers, it's doing okay. 03:40 So that's that's what I think. 03:41 I think it's okay.