Beyond being an expert I have some intuition, may be the money moving around is smaller but the craziness is high and probably will be higher than 90s because it's easier to get some small money and die in a shorter cycle. Just looking at AngelList I am impressed.
But what really changed is the level of dependency on Internet services around the world and this is where it's different than the 90s. In the 90s the major sites had some more specific purpose (buy books), now we have Internet completely engaged in our life workflow and even our microtasks (e.g.: copywriting, having a form) can be "outsourced" to some site and this is the opportunity. In the past I feel stupid if I didn't set up my own SMTP/POP3 server for my domain (it's free, open source, blah), now I realize that it's cheaper to pay for a lot of more things, even if it takes just a few hours of my day.
But what really changed is the level of dependency on Internet services around the world and this is where it's different than the 90s. In the 90s the major sites had some more specific purpose (buy books), now we have Internet completely engaged in our life workflow and even our microtasks (e.g.: copywriting, having a form) can be "outsourced" to some site and this is the opportunity. In the past I feel stupid if I didn't set up my own SMTP/POP3 server for my domain (it's free, open source, blah), now I realize that it's cheaper to pay for a lot of more things, even if it takes just a few hours of my day.