Venture capitalist Fred Wilson of Union Square Ventures tells Robin Gill, senior vice president of City National Bank’s Technology Group why he thinks the current tech bubble might deflate a little, but not burst, even if the financial markets stumble.

“The underlying business fundamentals of the Internet continue to get stronger and stronger and stronger” he says. People, he says, are doing more and spending more online, and there’s more profit to be made.

Valuations are high, he says, and more companies are willing to operate at a loss for a longer period. However, he says, “The foundation is so strong now that there’s no way that the whole thing would just come tumbling down.”