This Investment Bank Deck Shows There Is NO Tech Bubble

We recently laid out the case that the tech sector was in a massive 1990s-style bubble, poised to pop.

But at Business Insider's Ignition 2013 conference last month, boutique investment bank Gridley & Co. laid out the case that, in fact, valuations are currently way below the mania we saw in the dot-crom crash of the turn of the century.

Gridley advised parties in DoubleClick's acquisition of Performics and Digitas' buyout of Modem Media.

Here is a condensed version of the deck Gridley presented at Ignition, with a focus on the bubble-icious - or not - nature of the current state of tech.