> Further, I can't locate nor have seen any evidence to support the claim that anybody considers those types of apps to be the apex of human civilization.
I think the public perception problem is that "people invest in / read about things they understand." By definition, people are less likely to understand an enterprise predicated on cutting edge research than a realization of an existing market need by deploying existing technology. So the bubble talks about Snapchat but not battery technology startups (side gripe about deplorable state of popular scientific reporting).
http://blog.samaltman.com/hard-tech-is-back
I think the public perception problem is that "people invest in / read about things they understand." By definition, people are less likely to understand an enterprise predicated on cutting edge research than a realization of an existing market need by deploying existing technology. So the bubble talks about Snapchat but not battery technology startups (side gripe about deplorable state of popular scientific reporting).