Last week, both Farhad Manjoo and I said there was one big silver lining of the Facebook IPO debacle: Surely no one can argue we’re in a tech bubble now.

We were wrong.

As the D10 conference was winding down, I grabbed New York Times columnist Nick Bilton and dragged him down to our dungeon Kara-Swisher-approved video lair to talk about the broader lessons of the week’s on stage interviews and many, many late night scotch-soaked hallway and poker table conversations. Between the two of us, I bet Bilton and I grilled with every big name at the conference.

Bilton asks if I heard much about the b-word, and I had to confess it was one of the first times in six years I didn’t. To which he argued that he thinks one is building.

Wait, what?