A note from Daniel

The hype cycle has played out many times across many technologies, including railroads, electricity, and automobiles. Take the internet, for instance. Dot-com mania climbed toward its "peak of inflated expectations" in the 1990s. A slew of overpriced IPOs came out of that era, but so did several legitimate and wildly successful companies. After the early 2000s "trough of disillusionment," two steady decades followed along the "slope of enlightenment," bringing internet valuations back to new highs, this time driven by fundamentals. Any skeptie who dismissed dot-coms as magic beans would have missed out on the successes of Google, Amazon, and others.

Daniel Read Write Own, page 151 · March 12, 2024 Save to shelf
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