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Bubbles and Nattering Nabobs of Negativism

I've being commenting a bunch here and in the Other Media on cycles in technology markets, whether in online video, Web 2.0, or elsewhere, and the word "bubble" keeps coming up, as if it's something bad. The word "bubble" has clearly been commandeered by nattering nabobs of negativism, and I'd like to claim it back.

To be clear: Bring on the bubble. We're overdue, and I'm eager for the disruption to the status quo, the unleashed innovation, and the wealth creation inherent in such things. I want more companies going public, more YouTubes, and so on. Sure, there will be lots of company failures, errant capital, and so on, but so what? Conservativism has no role in Schumpeterian economics.
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