Marketplace Tech Infrastructure lessons from the dot-com bubble
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Jan 28, 2026 
Paul Vixie, an Internet engineer who helped build the Palo Alto Internet Exchange and later led AWS Security work, tours Menlo Park and recounts the dot‑com fiber rush. He describes the frantic buildout of fiber, the bankruptcies that followed, and how dormant infrastructure later powered search, social, streaming, crypto, and AI. Short history and big tech consequences.
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Vintage Manhole History Walk
- Paul Vixie walked Meghan McCarty Carino through manholes in Menlo Park where dot-com fiber was laid during the boom.
- He described the physical infrastructure and memories of building the Palo Alto Internet Exchange under those streets.
Boom Built Future Internet Capacity
- Telecoms spent billions on fiber during the dot-com boom and many companies later went bankrupt when demand didn't match supply.
- That unused fiber later enabled future internet waves like search, social, streaming, crypto, and now AI.
Build Quickly Within Limits
- Move fast within legal and physical limits to build critical infrastructure because speed determines winners and losers.
- Prioritize rapid construction where returns accrue to early deployments.