The great thing about history is that it often repeats itself – though not necessarily as Marx envisaged it. Here’s a story about the tech industry that illustrates the point.
Act one begins in the spring of 1993, when Marc Andreessen and Eric Bina released the first graphical browser for the emerging world wide web. They called it Mosaic and it was a runaway success because it was the thing that enabled ordinary people to understand what this internet thingy was for. In 1994, Andreessen and Jim Clark set up a company that eventually became Netscape and in October that year released a new, improved browser called Netscape Navigator, which in three months had 75% of the nascent browser market. In August 1995, Netscape went public in a frenzied IPO that triggered the first internet boom.
