We are in a 2nd bigger 'tech' bubble. I hear lots of funny thing said about the era and now' "today is nothing like the dot com bubble, pets.com ... PETS DOT COM!". and I am like, pets.com had a max valuation of 400 million for like a hot minute. Today we have over 1,000 never made a profit tech unicorns. One thousand companies with a market cap of 1 billion+ that has never (and probably never will) made a profit.
"you just got to find a company with a strong balance sheet, one that makes money, one that sells the shovels". Had you invested your money in CISCO back then, you'd still be in the red over 23 years later.
