First came news that more companies went public in 2014 than in any year since 2000. Today, a new report claims VCs invested more money in 2014 than in any year since 2000. Everyone is getting rich. The good old days are back again.

Bill Gurley, the Benchmark Capital investor who backed Snapchat and Uber, is uber-bullish when it comes to his own portfolio. But the rest of Silicon Valley, he says, is not nearly frightened enough: "No one's fearful, everyone's greedy, and it will eventually end."

All the way back in April—when Uber commanded a $3.5 billion valuation, instead of $18 billion—the New York Times delineated the difference between the current tech boom and the dotcom cycles of yore: "If it is a bubble, one thing that sets it apart is its relative dearth of retail investors."

Same as it ever was, reports the San Francisco Chronicle. In 1999, at the peak of the boom: "Startups turned warehouses into offices. Venture capitalists poured money into companies with no earnings. Chronicle reporters wrung their hands about the disappearing soul of the Mission."