In the first bubble, there was a lot of enthusiasm for digital strategies generally. There was also a lot more acquisition interest in tech start-ups by non-tec

In the first bubble, there was a lot of enthusiasm for digital strategies generally. There was also a lot more acquisition interest in tech start-ups by non-technology companies which saw the potential for disruption of their industries. So if a team managed to bootstrap a company that covered its costs and earned revenue they could easily engineer a sale or take investment and de-risk. I don't think that is the case these days, when the reality is that most entrepreneurs are working inexpensively for themselves and headed for failure. A few are growing businesses organically and slowly displacing rather than being acquired by their competition. If the tech economy were even close to a bubble, entrepreneurs would be de-risking much sooner.