Comment by spacebanana7

There's a persistent pessimism - almost to the point of paranoia - in tech from the trauma of the dot come bust. People fear waves of mass layoffs and 99% reductions in the value of their companies.

In reality most things go in an S curve and the excitement fades in a rather boring way. People were worried about bubbles in 2016, but they never really happened.

There was never a mobile bust, or a social bust, or a big data bust. These things just got boring after a while and the valuations stabilised. Sometimes companies went bust and sometimes they kept growing, but the super exponential growth in validation stopped. And we moved on to talking about the next thing.