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The owners and players had to negotiate the terms of the bubble point by point, and they will need to follow the same process for next season because there is no way to guarantee in October exactly what the operating conditions will look like in January or even March.

What has brought us – once again – to the bubble point?

Some who have expressed concern about the current tech bubble point to rapid burn rates for so many pre-revenue startups.

Those who fret about a bubble point out that housing prices did not even hiccup during last year's recession, suggesting that they exist in their own inflated orbit.