It was coined in the 1980s to describe the transition from a manufacturing industry to a new, technology- and service-based economy. Today, we might call it the "third Industrial Revolution", the "Digital Revolution" or the "Information Age".
"Build it, and they will come," a misquote appropriated from a 1989 Hollywood blockbuster, Field of Dreams , passed for business wisdom in the dot-com era.
The economy went into recession. Silicon Valley went into depression. The crash was epic. But the vision of a technology-fuelled remade world remained, and the industry was eager for something new. It needed new heroes and fresh ideas.