One thing to keep in mind is that in the Dotcom bubble, the web was brand new. On the talent side, we were still figuring everything out. Most software engineers were used to either desktop app development, or expensive enterprise server development. Most designers were print designers, with UX design having not really emerged from the early human-computer interaction days where it was still more technical than humanities.
At the same time, the web had only proven that regular people were willing to try it, but there was no meaningful consumer or advertiser money flowing through it for another ten years. So basically you had a perfect storm of a bunch of people trying to figure out something from scratch and massive over investment from VCs. When the music stopped it was a bloodbath because there was so little actual revenue.
I don't see the same thing happening now because the web is firmly embedded in our lives and someone needs to maintain all this code. I'm honestly more worried about environmental threats and the sustainability of our way of life than the economy per se.
At the same time, the web had only proven that regular people were willing to try it, but there was no meaningful consumer or advertiser money flowing through it for another ten years. So basically you had a perfect storm of a bunch of people trying to figure out something from scratch and massive over investment from VCs. When the music stopped it was a bloodbath because there was so little actual revenue.
I don't see the same thing happening now because the web is firmly embedded in our lives and someone needs to maintain all this code. I'm honestly more worried about environmental threats and the sustainability of our way of life than the economy per se.