You know who these “entrepreneurs” are. These are the snake oil salesman. The guys who talk a good game and can convince everyone from venture capitalists to the press to the general public that they are the biggest, coolest, most important new thing out there. So what if their product doesn’t do anything or has no way to actually make money or is a bad version of another product that’s already out there. These players are so good at marketing themselves and their products that they are able to generate irrational exuberance.
But these guys are really just a bunch of hot air. And you know what happens to bubbles when they get too full of hot air. Pop. And so the bubble bursts, taking down the shameful hucksters who caused the burst (though also typically taking down a few legitimate companies that deserved better).
But the bubble isn’t always a bad thing. For the technologies involved it can be a cleansing experience. With all the hype and hot air removed, the technology can settle down to doing its intended job. After all, despite the damage of the .com bust, eCommerce is doing just fine. So keep an eye on your bubble cycles and know when to avoid the hot air. And remember, somewhere out there right now is a technology-savvy and marketing weak inventor who is starting the first puffs for a whole new technology bubble.