Trending: Amazon and Seattle’s NBA dreams: Steve Ballmer on the city’s prospects for bringing back the Sonics

Flickr photo/Justin D. Miller

Too much money has flowed into too many Internet companies at astronomical valuations, leading Fortune’s Dan Primack to conclude that we are currently experiencing an “economic bubble” in which valuations for venture-backed companies are “spiraling out of control. A good analysis.

And speaking of bubbles, Connie Loizos at PEHub talks to Marty Pichinson — aka as “Silicon Valley’s undertaker” — who predicts that a major “fallout” is coming.

It takes just as long for life science companies (five to seven years) to make the leap to IPO as it does software and Internet companies, according to an analysis by Fortune.

The official mascot of Cheezburger Network isn’t your ordinary house cat.

Hipcricket, the Kirkland mobile marketing company that was just acquired by Augme for $44.5 million, said it has surpassed more than 130,000 mobile Web and coupon campaigns for MillerCoors, Nestle and Macy’s.

Google isn’t just expanding its operations in Seattle and Kirkland. The search giant reportedly just inked a deal for four office buildings in Sunnyvale, California with room to accommodate as many as 2,900 employees, reports The Contra Costa Times.

Partnership of the day. Taiwan mobile handset maker HTC partners with rapper Dr Dre, pumping $309 million into his Beats Electronics site. HTC CEO Peter Chou (pictured here with Dre and Beats CEO Jimmy Iovine) notes that “Beats has found a unique way to harness popular culture in a manner that is unlike any other brand today.”

Zulily, which just raised $43 million in venture capital at a valuation of more than $700 million, is by far the most popular “flash sale” site on the Internet, according to research from Hitwise.

ThePlatform, the Seattle online video distribution company, has announced a reseller agreement with Real Life Venture AB of Sweden to extend video publishing, management and development services in Denmark, Finland, Iceland, Norway and Sweden. The subsidiary of Comcast also signed a reseller agreement with Hemisphere Interactive to bring service to Australia and New Zealand.

Tennessee Governor Bill Haslam says — which is planning to open new distribution centers in the Volunteer State — should collect sales tax in his state,  reports The Tennessean.

Headline of the day comes via Alley Insider: Bill Gates wrote the first PC game in a night.

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