The current environment is nothing like the dot-com boom. The dot-com boom/bust was driven by public markets, whereas now the public markets are the ones who are filtering out the wild valuations now before it gets out of hand and throws the country into a recession like it did last time.
I suspect that a lot of people here would be surprised at how many people have never even heard of a lot of the tech (or "tech") companies that are so prominent in industry's awareness.
One example. I saw a stat a month or so ago that something like 63% of Americans had never taken an Uber. I'm sure the vast majority have never heard of WeWork.
Yes, some of these companies are now public. But this isn't a matter of a whole industry having a major downturn. It's mostly companies that are well-known in some circles but are pretty inconsequential in the scheme of things.
