Bloomberg interview with Paul Graham on "the bubble", startup valuations etc.

I was watching this Bloomberg interview with Y Combinator's Paul Graham ("startup god"), today.

He discusses the supposed "bubble" that's been going on, valuations of early stage startups, Facebooks valuations and other similar topics. It's an interesting video also for the fact that he's being interviewed with non-startup people and it's fun to see things from the other side.

https://www.youtube.com/watch?v=wMBTRf1kgm8

Is there a bubble or is there no bubble? The debate continues. Personally, I don't care. Most of the people in the industry seem to claim there is no bubble and PG is no exception. But like someone posted on the HN thread about this video:

This is one of the classic signs it's a bubble right? (when people in the industry claim it's not)

That's a valid point.