As someone who was working in the industry during the original dot com crash, I can’t agree with the title of this piece.
Back in 2000, there were lots of companies charging big prices for all kinds of “web stuff.” Investors brought into the high valuations in areas as diverse as bulletin boards to undersea fibre.
But that doesn’t mean that the Internet had no clothes.
25 years on, we’ve discovered that the Internet had a lot of clothes, they just weren’t exactly the ones that money was chasing in 2000.
Of course there’s a lot of hype about AI, but like we saw with undersea fibre, that’s getting investors to plough money into building infrastructure on which the rest of us will be building for another generation.
The Emperor not only has clothes, but they made of fabric that lots of us are finding very useful 🙂
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