Not clear if you think you're being clever but you're just coming across as annoying

You're struggling with some strong cognitive dissonance there. It is well known we are in a bubble. Everyone but Silicon Valley knows it.

I agree we are running in bubble-like dynamics now. Personally I believe this is driven not by dumb money but more by the fact that the rest of the economy has been under-performing since '08, and therefore smart money is looking for any investment that improves odds at big results. I honestly don't know if this distinction will matter at the end or not.

On the other hand, you could have spared a lot of down votes if you had made your point clearly in the first place.

That doesn't even make sense. If it's because we're in a bubble, why would that stop companies from going public? It would actually help them go public.