I think, like most things, it's a question of execution. Frankly, a lot of the infrastructure and societal mindset just wasn't there in 1999. I was playing onli

I think, like most things, it's a question of execution. Frankly, a lot of the infrastructure and societal mindset just wasn't there in 1999. I was playing online games every day since 1998, but it wasn't until 2003 that I was making even one or two purchases online each year, and not until 2007 or so that they felt commonplace to me. Then again, that doesn't mean it wasn't a bubble- the irrationality is in how viable the businesses themselves are, not the ideas, as many more ideas have a kernel of value than what we think, but it's a question of execution, timing, and luck. We might still be heading into another bubble now. Or maybe we've just gotten very, very good at closing the convenience gap.