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Another theory (or is it "thesis"?):

To VC's, the 1990's internet was a "grab all you can before it's to late" in the same way the App Store was when it was launched. Using lots of VC money the current players have secured their position as "caretakers" of the internet, a medium that's no longer novel for Klondike like expeditions. All gold has been mined (or is already claimed).



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