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It in people i know, who got into app development, there is a lot of money. why is there so much money out there? >> nobody wants to get left out of the next big thing. somebody says, you know, if it costs me a million or two to get in on this, if i lose it, that's okay, i'm going to spread it around and maybe i'll hit one of these jackpots. >> but why is there so much money -- where does the money come from? i remember when the financial crisis happened around the housing, there was this planet money called the global pool of money. there was this glut of savings worldwide. there was all this...

Offer from facebook. and uber is now valued at $18.2 billion. just to put that in perspective, at that valuation, uber is worth more than avis, hertz and sony. this has people asking, are we experiencing a massive tech bubble. investors be wary. if there is a tech bubble and it's ready to burst. how much damage could it cause? when pets.com and many other web based companies were falling victim to the last tech bubble, it helped drag the economy into recession. with an app that says yo, with that bringing it in a million. this is dangerous. it's high time to figure out what is going on.

Have a great idea like the yo app and somebody comes to you and gives you a million dollars for a chunk of it. they're getting a great app down the road. >> am i wrong? i know there are millions of people around the world that use it, free messaging service. it's a great product. it's unclear to me how it's going to make money. how -- that's the other thing, that is the other thing about this that's similar to the tech bubble, companies that had no clear strategy getting acquired or doing ipo's for hundreds of millions or billions. >> i was around for that original dot com bubble. i think some...

This does seem to me like this is the thing we're going to write about five years ago. >> is this is where we say, you ran out of ideas, we're going to get the million dollar idea to anybody who walks in the door. can you come up with good talking points about it. it's a low latency communication app. it makes sending a message like one tap, versus 11 taps to send to yo, it's not the yo that's important, it's the fact that you can ping someone. >> i'm defending the concept that you can have an app that does one thing simply. the guy that came up with this app, someone asked him, can you make a...

Is yo. it sends your friends the word yo in a robot voice. no other words are available. but it turns out, i couldn't believe this, my million dollar idea is already out there, and now i'm no longer joking, someone actually raised $1 million for it. >> the developer took eight hours to code. it's so simple apple rejected it from the app store the first time around, because the quality assurance guys thought it was unfinished. >> it seems pretty ridiculous on its face. an app that just says yo, and yet someone got a million dollars for it. of course, a million dollars is not all that much. face...