In the CNNMoney article "Ron Conway: Tech is Nowhere Near a Bubble", Conway argues that e-commerce demonstrates how much money can be created on the web. With fewer that 6% of people buying online, Conway estimates that this number can rise to 25% over the next 10 years.
Prior post on Tech Bubble:
Nope! Still No Bubble Here, Says Marc Andreessen
Ron Conway: Tech is Nowhere Near a Bubble