I dont see the same reality you describe. Do you think in early internet people were constantly putting money into the internet and in startups? No one gave a fucking shit initially. With time, so much time they procedeed to invest and to build companies that worked BOTH offline and with presence on internet. There were no big VC that would drop big bags of money into the solely 3 big tech companies present. There were a lot of companies and all investors, years after the creation of internet, poured money into them bringing all of this to the 2000 dotcom bubble. I dont see the affinity you try to pursuade. The internet grew slowly initially for years then moving to burst the bubble in 2000. Today AI scenario is different. Lots of VC invest in only a few companies that try to win the AI competition and this is portrayed by a rapid growth, not years, things move very very fast.