A Tech Bubble

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California's Silicon Valley might be a bubble of innovation; but is that bubble about to burst?

Peter Thiel is the author of “Zero to One;” a book that is being billed as one of the smartest ever written to teach people about economics. And with a background that includes co-founder of PayPal and the first outside investor in Facebook Thiel is an ideal teacher.

And despite selling his company to Ebay Thiel says companies today should not be in a big hurry to sell. He also doesn’t believe that Silicon Valley is in a tech bubble. He says in the 90’s there were about 300 tech IPO’s; today there’s around 40 and consumer enthusiasm is fading.

“What’s very different between 2014 and 1999 is that the public is not involved and i think it’s much harder to get irrational exuberance the madness of crowds all those kinds of things that are typical of bubbles going on.”

Thiel says the important thing is distinguishing between something that’s already been done and a unique idea. And all you need is one.