Sridhar Vembu, the founder and chief scientist of Zoho Corporation, has raised alarms about the current valuations of major technology companies, suggesting they reflect signs of a market bubble reminiscent of the dot-com era. In a recent post on X, he analyzed the price-to-sales ratios of leading firms, including Nvidia at 20x, Apple at 10x, and Microsoft at 10x, indicating a significant disconnect from their underlying business fundamentals. Vembu referenced comments from Scott McNealy, former CEO of Sun Microsystems, who warned about the implications of high revenue multiples back in 2002. He stated, 'This is an insane bubble, even bigger than 1999,' drawing parallels to the late-1990s tech boom. However, some investors have countered Vembu's assessment, arguing that today's tech companies are more profitable compared to those during the dot-com crash, which often operated at a loss. The conversation highlights the ongoing debate about whether the current surge in AI-related stocks is justified or indicative of inflated valuations.