>It was not even supposed to happen because the prices went back up The vast majority of the constituents of the DotCom bubble went entirely extinct and their

>It was not even supposed to happen because the prices went back up The vast majority of the constituents of the DotCom bubble went entirely extinct and their stock prices went to zero. You are looking through a lens of survivorship bias. I'm guessing you are referencing the price of market cap weighted index funds when you say "prices went back up", which is just one aspect of the DotCom bubble. The primary event was the prices of most of the hyped companies going to zero and the investors losing everything. The number prints from market cap weighted indexes are somewhat arbitrary calculations that doesn't necessarily reflect the underlying market behavior. >The dot com bubble was aberration. It was a fairly typical bull mania, seen many times in history, and seen since as well (DotCom 2.0 was the 2020-era cycle with ten billion dollar Peloton, ten billion dollar space tourism companies, companies like Nikola with literally no product hitting 30 billion, etc, but don't take my word for it, look at the chart of the two events: https://static.seekingalpha.com/uploads/2024/10/9/48422113-17284511487545593_origin.png https://static.seekingalpha.com/uploads/2024/10/9/48422113-1...) >the bubble should not have burst Bubbles are often based on a reality of future growth, which is what draws people in. The fact that Amazon was eventually worth obscene amounts of money doesn't negate the fact that hundreds of listed companies went to zero. That is the DotCom bust. The bust of a huge swathe of real companies in the real economy, and their listed stock prices going to zero. Passive ETF domination is more of a recent phenomenon anyway. The world was much more actively managed and stock picking/mutual fund oriented until the last decade or two. Funds like Janus getting decimated with 330 billion AUM in year 2000 money was the catastrophe in the fund space. Index tracker funds like QQQ were secondary to that when it came to DotCom.