These ppl who say tech is a bubble need to give it a rest. They have been saying since 2009 that Amazon, Tesla, Facebook, Uber, AirBNB, Instagram, etc. are a bubble, and have wrong ever since as valuations keep rising. The pandemic has only made apps more valuable, due to physical stores being closed and unemployed people having more free time to use apps. They, these bubble forecasters, were only right in the 80s (video game and PC bubble) and late 90s (dotcom and communications bubble) but this time really is different. A reason is, an individual's daily time on social media and apps can be divided into arbitrarily tiny slices or overlapping slices, so this allows many huge companies to make money, as opposed to the finite constraints of hardware companies faced in the past (you cannot spend an hour simultaneously playing on a Sony, Sega and Nintendo system; you have to choose one or split it up). So imagine if someone has 1 hour/day uninterrupted to spend on apps and social networking, so this can be at home, or during lunch, etc. A person who uses that hour on multiple social networks and apps gets exposed to each network/app's ads, so now rather than seeing only an Instagram ad or Facebook ad, now sees a TikTk ad, a Snapchat ad, etc. Many people keep 5+ social networks open at once and get exposed to all their respective ads. It is sorta like watching TV and listening to the radio at the same time and getting both the TV and radio ads.