In 1997 , there was a dot com bubble, the internet started exploding, because everybody believed that this is the next big thing.

Since everyone wanted to make money, people simply started throwing money at every new tech company, thats why new companies emerged every day!

In fact, over 1300 companies were created during that period and among them were google, amazon and many others.

The stock market was going through the roof because everyone was investing, so the media was obsessed about it and never stopped talking about the financial boom that was going on in the stock market, which drove even more people to invest and that led the prices to increase to unbelievable numbers.

And as always media started raising the panic again, that if that this is the end of the world, and that led everyone else to pull out their investments. And the result was that, Most of these companies went bankrupt and people lost billions of dollars.

Only few companies could survived the crush and today they are leading the tech industry. The same thing happened in 2008 by the way and now its it is happening to cryptocurrencies.