'The measure of a bubble is investment, and that's still under control'

Paul Graham, when interviewed about some fundamental questions of Web 2.0: Interview About Web 2.0.
From the same article:
"Certainly there is a lot of hype. For example, there are a lot of sites using cheesy 'Web 2.0' design elements to seem cool. All those fades and 'Betas' and giant fonts are going to look very dated in a few years. But cheesy design doesn't make a bubble. The measure of a bubble is investment, and that's still under control."