What the tech bubble got right

Paul Graham has written an interesting essay on what the tech bubble of the late 90s got right, something not many have focused on very much:

Now anything that became fashionable during the Bubble is ipso facto unfashionable. But that's a mistake-- an even bigger mistake than believing what everyone was saying in 1999. Over the long term, what the Bubble got right will be more important than what it got wrong.

(Via Slashdot)