The biggest difference I see is that while I know many non-developers wanting to get into software, only those that actually become strong developers make it.

The biggest difference I see is that while I know many non-developers wanting to get into software, only those that actually become strong developers make it. In the 90s it wasn't just that HTML was new, anyone that was "good with computers" was able to land jobs that paid stupid amounts of money for the skill set. There's good money and a demand for developers now, but companies are still looking for good developers, not just bodies with the right buzzwords on a resume. And also mentioned in the parent comment: there's nowhere near the zeal from the general public. I don't know anyone in the non-tech world that thought groupon or zynga was a good deal, and almost everyone is curious how exactly fb plans to make money in the long run. Compare this to the dotcom bubble or the real-estae bubble and it is very different (I remember many people telling me in 2007 that I was foolish not to buy a house).