When looking back at the Dotcom we see the clear lack of profit in these companies.

To run a business you have to have a bunch of resources: for example intelligent people, computers, office space, time and money.

Then you take that and make some software that is useful for some people or organization.
If they find it useful they will pay more for the product than what you spend in resources.

It is as simple as that.
Build something that is useful for others that adds value to someone’s organization. Make sure you spend less building it than what people are paying for it.

But during the so called dotcom, all these unintelligent people failed to see that what they where doing actually decreased the total value. First it was all that extravagant spending on all sorts of things, but the worst thing was that there was very little focus on profit. The profit was always to come in some distant future.