EDIT: thanks for all these brilliant responses. Hits great to get the various perspectives. Upvotes are on me!
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“Dot com” referred to internet-based businesses at a time when that was new. After some early internet businesses did well in the 90s there was a rush of investors to invest money with any 20-something software engineer with a business plan (the bubble). The internet as consumer technology was new at the time, and many of the investors didn’t really understand it other than that many people were going online and there must be money in that. Although some of those businesses did well, many of them did not, and their failure was the bursting of the bubble. It was not primarily that something specific happened in the early 00s so much as it turned out (for most companies) to monetize growing web traffic.
We’re seeing a bit of the same with tech now and will likely see the same with AI in ~5 years.
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