I have started reading the book "Technological revolutions and financial capital" by Carlota Perez and found this chart pretty interesting.

According to the author, technological revolutions typically last around 50 years and are divided into 4 phases:

It's often the case when the tech is already there but the society and the institutions must be willing to adapt to it. This is why it takes some time until the revolution reaches phase one.

This lag, imho, might be what happened during the dotcom bubble. The internet was in gestation period but stock prices were already reflecting explosive growth. The revolution came, but it did so later than investors anticipated.