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The dotcom bubble started without the world wide web, and indeed in the beginning it didn't even recognize the Internet as important. Once Al Gore began talking about the "information superhighway" in the early 1990s, however, the "big end of town" - Hollywood, Silicon Valley, telecommunications carriers, cable companies, and media conglomerates, all began investing.
Between April 1992 and July 1993 all of the major US business magazines had published major features on new communications and the "Information Superhighway". It's worth analyzing what these magazines and feature articles talked about. The first thing I noticed - not one of the feature articles I picked up mentioned the Internet. It wasn't on the business horizon of this brave new converged world of Silicon Valley and Hollywood. They were more interested in interactive television.
It may take a few years before we know how much wealth was lost in the dotcom era; some companies are still adjusting to post dotcom reality. But the losses are certainly in the billions, and with a few more years distance might be seen to be the major factor in the recent decline in the US economy. However dotcom is still too close to us to be able to fully understand.

Sources:

The DotCom Bubble

Economic Bubble

The DotCom 10 Years later

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