Chris Anderson writes:
why is the froth missing from the wave this time? Because the underlying economics are so much healthier, in three main ways.
First, technology adoption has continued at a torrid pace (and even accelerated at times) despite the bust.
The second reason that this boom is so different from the last is that the sunk costs of the dotcom era make the economics of entrepreneurship more favorable.
In this new environment, startups can grow organically. That means less venture capital is needed – and that’s the third reason this boom is different.