The world wide web was developed in 1989 and went online in 1991.
Here are the 10 largest companies by market cap and when they were started:
- Apple Inc. - Started in 1976
- Microsoft Corporation - Started in 1975
- Alphabet Inc. (Google's parent company) - Started in 1998
- Amazon.com, Inc. - Started in 1994
- Saudi Aramco - Started in 1933
- Facebook, Inc. (now Meta Platforms, Inc.) - Started in 2004
- Alibaba Group Holding Limited - Started in 1999
- Tencent Holdings Limited - Started in 1998
- Berkshire Hathaway Inc. - Started in 1839 (as a textile company, later acquired and transformed by Warren Buffett)
- Johnson & Johnson - Started in 1886
Half the list wasnt even around and Apple, a case could be made, was only a niche computer company before the iPhone which incorporated the Internet.
So 6 of the ten are basically Internet driven value. Think about that.