Crypto and the Dot-com bubble may have more in common than I'd like to admit but it's not all bad.

I've been reading about the dot-com bubble, and I'm no bear so I hate to admit it but there are similarities between what happened to internet, telecommunications and tech companies in 1999-2000 and crypto today. Whether it be projects getting billion dollar valuations without having much of a product to show, the Fed continuously raising interest rates, or even the spike in the number super bowl commercials it is eerie how closely crypto seems to be repeating the pattern of the early internet. It felt bleak and maybe it is but then I came across this:

In a 2015 book, venture capitalist Fred Wilson, who funded many dot-com companies and lost 90% of his net worth when the bubble burst, said about the dot-com bubble:

"A friend of mine has a great line. He says 'Nothing important has ever been built without irrational exuberance.' Meaning that you need some of this mania to cause investors to open up their pocketbooks and finance the building of the railroads or the automobile or aerospace industry or whatever. And in this case, much of the capital invested was lost, but also much of it was invested in a very high throughput backbone for the Internet, and lots of software that works, and databases and server structure. All that stuff has allowed what we have today, which has changed all our lives... that's what all this speculative mania built"

We may lose some capital (I really hope not!) but what is being built here will endure and help shape a world we can hardly imagine. Thanks for investing in the future fellow redditor.