My Dad was an ROV technician for a brief period in the early 2000s, he got made redundant in early 2002 just after 9/11, and the dot com bubble bursting. On his last of the only two trips he made, he was based in Recife in northern Brazil. The ship was just there, on call, ready to respond to any breakages. My Mum, sister, and I were lucky enough to be flown out to Brazil for Christmas 2001, and it's something I'll n…
My understanding is that there was a one-two punch of the dot com boom laying a huge amount of fiber followed by wave division multiplexing shortly afterwards massively increasing the capacity of existing fiber that resulted in an oversupply that lasted a decade or more.