Two years ago, there were a lot of ideas floating around. Many of those ideas were really good, but the size of the market for those ideas, and the related market cap justified by them, was way off. Even those of us who were direct recipients of the inflated market caps didn't believe that they were sustainable. That said, I truly believe that the reality of the Net is still greater than the hype. We've seen just three percent of the impact of the Net.
Encryption is extraordinarily powerful.
Its impact dwarfs the power of the microprocessor. This is a big deal. Once we've authenticated our identity digitally, we can do all kinds of things. With encryption, I can send a message to your public key with my private key. You authenticate it, and the whole exchange is private, between us.