Religious or cultural preferences are comparatively difficult to account to, but I agree they are one of the important deciding factors. Additionally climatic conditions are a vital criteria which this article failed to incorporate and hence a poorly developed generalization is obtained

Yeah, you're right. It seems we are very close to the bursting of a tech bubble. The 2000 internet bubble left numerous established companies in ruins and I don't think this would be any different. Valuations of companies with absolutely no revenue are at the zenith.