Wisdom Of The Week

"I think a major reason for the difference between net and gross investment is the growing share of Info Tech (IT) in business fixed investment. IT now accounts for over half of real business investment. But IT has a much shorter life span than traditional business equipment or investment in structures.
It is like going up a down escalator –you have to run harder just to stay even."

- via MR

This isn't exactly a bubble but just creative destruction at an exponential speed with lesser monetary returns. Not all business models require tera bytes per milli second performance. Sooner or later companies might realize that their original goal was run a business not an IT department and keep buying "toys" for perpetuity. When that day arrives .. things would be interesting to say the least.