We are just like a good farmer, culling and killing anything that doesn't look like a crop. And betcha we keep weeding, real regular for a while. It did change. It is changing, and it will continue to change. The blind greed vs fear that has always been the equation, will continue to be.
Many new investors are more sophisticated now.
Many companies are spending money with greater effectiveness, i.e., productivity, because they have to. In retrospect, how naive we all seem. All at once, on a slow national scale, we look about at each other ashamedly, as the smoke pops out of the bubble, and the ground rushes at us. The huge information companies, have redefined the fiscal landscape of America quite well, thank you. The huge input to the high tech community fueled more research and business experimentation than has yet to show, or become profitable.