The question should really be: why should the availability of cheap capital condition whether a tech business is viable or not?
That's not to say that coronavirus doesn't pose systemic risks by itself and can have significant effects on consumer behaviour regardless of the VC rumour mill and financial market sentiment; just that these are increasingly irrelevant since bootstrapping, crowdsourcing and lean startup provide better incubation for good tech business ideas than the more capital intensive planning that went on in the dot com boom/bust.
That's not to say that coronavirus doesn't pose systemic risks by itself and can have significant effects on consumer behaviour regardless of the VC rumour mill and financial market sentiment; just that these are increasingly irrelevant since bootstrapping, crowdsourcing and lean startup provide better incubation for good tech business ideas than the more capital intensive planning that went on in the dot com boom/bust.