[vikramkr]

Well, of those 3 the 1998 internet bubble actually was different and modern society actually was fundamentally changed by the technology in question, so idk if that's the best counterargument. The other two, sure yeah those amounted to essentially nothing. But there have been plenty of bubbles where the concept underlying the bubble actually did have large societal impacts even if the investors all lost money, like tulipmania with futures contracts and railway mania with trains