entropia

I missed the ’90s bubble.  I was one of the outsiders looking in at all the dot-com-ers getting rich, then poor.  So I’m probably way off base here.  But I’m not sure the current situation constitutes a bubble.  At least, not like ten years ago.  Here’s a few ways things are different now than they were then.

The leaders

Then, dot-com businesses were run by businessmen.  They would think of something to sell, then hire programmers and marketers to make it happen.

Now, so-called Web2.0 sites are run by designers.  They think of something that may or may not already be available, put it on a pretty website, and give it away.

The content

Then, product were, well, products.  You hear about a website that sells something you want, then go there and buy it.

Now, products are information, packaged in intriguing ways.

The goals

Then, startups would try to sell enough of a product to make money.

New, the goal is to be bought out by Google or Yahoo.

The perception

This is where I think the real difference lies.  In the late ’90s, everyone knew the tech industry was hot.  If someone said they were a programmer, people would assume they’re getting rich on that Internet thing.  The common perception of a computer geek switched from a nerdy antisocial guy who lives in his parents’ basement to a nerdy antisocial rich guy who live in an Aeron chair.

But now, outside of those in the industry no one notices what’s going on.  Other than a few huge successes like Flickr and YouTube, most haven’t heard of the current startups.  Ask your parents what Twitter is.  Or del.ici.ous.  But everyone knew about Amazon and eBay when they were young.  Same goes for the technologies:  Java is no longer a cup of coffee, but Ajax is still a cleaning product.

Then again, a quick glance at Techcrunch makes it hard to ignore that something’s going on here.  Something that can’t last for long.  Maybe that by itself makes this a bubble; some people would agree to that.