This doesn't look like a tech bubble

It seems like every day we hear about some newfangled app landing tens of millions of dollars and sometimes billions of dollars in funding.

Silicon Valley is minting tech millionaires right now.

For some market watchers, the anecdotes echo of the tech bubble of the late 1990s that ultimate collapse in one stunning stock market crash.

Are we reliving that dotcom bubble?

The actual data suggests we aren't.

Andreessen Horowitz's Benedict Evans tweeted this chart of the past 35 years of private funding and initial public funding in the tech industry.

Currently, the money is flowing at half the pace it was during the peak in 2000.

Benedict Evans