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Good points - during the dot com boom and bust I was a CEO of a stock listed company so remember the period well. I do think the current stock market (especially US) is rather overpriced and some 'irrationally exuberance' with investors, especially co's like Tesla, Amazon.com, Twitter and Facebook with incredibly unrealistic P/E's. I also believe there are traditional stocks which are not overpriced - will the exuberance of the tech stocks and the likes of Bitcoin cause a bubble, its highly possible the prices will be corrected as QE stalls. I think many robot stocks are undervalued. With respect to the 'robot economy' - as Bill Gates said the personal robot market is likely to be the next 1 trillion dollar market. Whatever we call the economy, digital, automated or robotic -- a significant change is underway akin to the industrial revolution. Changes in the way transactions are conducted and business is completed. I choose to call that a robot economy. I do not see significant VC investment in AI and robots, much is government, industry and academia led - the dot com bubble was created by VC's and more importantly investment banks - the investment in robotics and AI is under solid business principles - While we have the computational power to support many versions of AI, the field remains relatively poorly funded, a surprising result given that the development of powerful AIs (even if they aren’t general AIs) would probably be one of the most important and lucrative technological advances in history. And when that happens business will not be as usual for individuals.