

Speaking as someone who never has carried a smartphone, there are a bunch of tradeoffs. I do my banking in person, for instance, and that can be mildly inconvenient. I don’t take a lot of photographs (when I do, I use an old-style single-purpose camera). “Portable media” is a CD player, and I carry a paperback book if I think I might have to wait somewhere for more than ten minutes or so. And so on. Just continuing to live the same way as I did a quarter-century ago.
I expect, however, that it’s a lot easier not to miss what you never had in the first place.
The dot-com bubble? A whole bunch of investment money was poured into businesses operating over the Internet from around the time dial-up became widely available. A few years later, investors realized that “on the Internet” wasn’t necessarily the key to making a crapton of money and the stock market crashed. A bunch of companies (many of which never made it to profitability) went under, and a fair number of people lost their jobs. Pets.com was one of the more notable victims.
This doesn’t, however, mean that no business is done over the Internet today.