We now find ourselves in a kind of suspended animation, unsure of what comes next. Having ridden the wave of dotcom advertising dollars, they are now trash-talking all things Internet. The media seems to be fueled by an almost manic-depressive rage. The coverage matters because it affects the financial markets. Negative coverage begets negative news.
Irrational despair replaces irrational exuberance.
When the economy crashed, they crashed, and a vicious down cycle began. Meanwhile, digital technology keeps marching along, fueling discovery and invention. Global Crossing keeps laying fiber under the sea. Optical-networking companies keep riding the speed of light. Wireless technology advances by leaps and bounds.