Yep. The Telco Bust 1.0 along with the Dotcom Bust is what enabled the cloud computing boom, the SaaS boom, and the e-commerce boom by the early-mid 2010s.

I think the eventual AI bust will lead to the same thing, as the costs for developing a domain-specific model have cratered over the past couple years.

AI/ML (and the infra around it) is overvalued at their current multiples, but the value created it real, and as the market grows to understand the limitations but also the opportunities, a more realistic and permanent boo' will occur.