It was the Web, not the internet. The internet was old, the Web was the innovation, the breakthrough underlying the dot com bubble and burst cycle and the Web l

It was the Web, not the internet. The internet was old, the Web was the innovation, the breakthrough underlying the dot com bubble and burst cycle and the Web lived on to give us many successful businesses that survived or arose from the ashes of the bust like Amazon and YouTube and Facebook, etc so the Web was highly valuable tech, the bubble was just a bad response to that good tech. But again it wasn't the internet, it was the web browser and the web server and the web protocols and HTML and soon JS and CSS, all just riding on top of the already well established internet. Crediting the internet for the dot com bubble is like crediting the city streets for the success of the taxi industry. It's a necessary condition but not the innovation that made the money fly.