Who mislead who? The 1999 pricing was influenced the dotcom boom, which created excessive valuations for anything tech related - so part of the decline from the $7 levels would've been caused by the unwinding of the dotcom bubble. The rest of the decline is clearly due to disruption of core profit streams by the internet. We can communicate with anyone anywhere in the world in real time now for free, instead of having to pick up a landline phone and paying TLS a fee for each phone call. Tech disruption can absolutely decimate the profits of 'old world' businesses, that's just how the world works.
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