> 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.
This could describe today, with crypto (tech still looking for solutions to problems that aren't scams), AI (great potential but mostly in a gimmick phase right now), and VCs coming from a decade of record-low rates causing extreme valuations across the board ($5M seed rounds, etc).
If you exclude Big Tech (which also took a beating but is managing), the smaller tech scene is ripe for a disruption of a very uncomfortable kind.
This could describe today, with crypto (tech still looking for solutions to problems that aren't scams), AI (great potential but mostly in a gimmick phase right now), and VCs coming from a decade of record-low rates causing extreme valuations across the board ($5M seed rounds, etc).
If you exclude Big Tech (which also took a beating but is managing), the smaller tech scene is ripe for a disruption of a very uncomfortable kind.