Korn said:
Also all the shonky and those lacking in IT and business knowledge went bust, when the market crashed
Well there were several factors contributing to it all building up and bursting.
There was the dot com goldrush when the Internet became viable to use as a business tool, then the WWW 91 onwards.
Then you had Y2K surfacing towards the end that spawned a bit of a grab for cash.
Then after companies realised things could be done more cheaply they started outsourcing en-masse causing more job losses. This was also aroudn the time most comapnies (and people) woke up to the fact that the whole Y2K thing was a "sham" because surprise surprise nothing major happened (when systems were patched). As a result a lot of overpaid IT workers started getting the sack and a lot of IT companies with less than sound business plans went under as the cashflow never came through.
In Australia this was compounded further with the introduction of the GST and the push by Federal Departments to get people starting to use electronic accounting methods.
The mass take up of PCs in the home and schools lead to a major drop in computer prices (supply/demand) which lead to a drop in margins for various businesses, not to mention the fact that online only and telephone shops with low overheads were giving better deals (Dell for example) which lead to fiercer competition and more drop outs of high end manufacturers. As a result of the increase in competition, R&D went up fuelled further by dot com funding.
The standardisation on x86 architecture for home use meant some of the different PC manufacturers tried to diversify, the 486 onwards power struggle between AMD and Intel also lead to a market segmentation and as a result a greater range of options for a variety of hardware needs. It would be a very different landscape had AMD not decided to brand their own x86 chips.
Large mergers occured and will continue to do so, and with mergers, come layoffs. The number and size of mergers towards the end of the bubble became ridiculous with thousands being laid off as 2 companies decided to blend into one. Take AOL/Time/Warner Brothers for example, huge hype, look where they are now.
So to say the It industry has undergone significant change in the past 15 years is an understatement
whether the next 15 will be as intensive I seriously doubt it. Which is good for stability but not extreme profitability, that is to say, you are more likely to keep your job for a while but not make much money at it, whereas in the dot com boom you'd jump on a startup, hope they made it big and then cash out, if they failed oh well there was always another one around the corner.