[hn_throwaway_99]

If you look at the history of big technological breakthroughs, there is always an explosion of companies and money invested in the "new hotness" before things shake out and settle. Usually the vast majority of these companies go bankrupt, but that infrastructure spend sets up the ecosystem for growth going forward. Some examples:

1. Railroad companies in the second half of the 19th century.

2. Car companies in the early 20th century.

3. Telecom companies and investment in the 90s and early 2000s.