To complain more concretely: I think the stats are wrong. The dot com bubble didn’t really burst until 2001 - but this post cites statistics between “December of 1999 and January of 2001”.
It also doesn’t say where it got it’s 2000s stats from.
employees laid off (or lose their jobs due to Tech companies going out of business)
But I still feel this is different. In 2001, there were _loads_ of companies that were started in the mid-late 90s on internet hype, and either had literally no business model apart from ‘drive up engagement and we’ll work it out later’, or had a business model (‘deliver pet food quickly’) that just wasn’t working, and growth charts that should it wouldn’t in the foreseeable future.
They’d all been just hemorrhaging cash for years. Is that as widespread now?
This feels more like an established industry that’s taking the (perhaps ill advised) opportunity to make itself more (on paper, at least) efficient to me.