The social-networking site Pinterest has set a price range for its initial public offering. At the peak price of $17 per share, the company would be worth a little over $11 billion, down from an estimate of $12 billion last year. Pinterest is part of this year’s wave of IPOs, which started with Lyft last month. Uber, Slack and Postmates are still to come. It’s shaping up to be the biggest wave of stock market launches since the dot-com boom of 1999, the one that ended when the dot-com bubble burst. But while the class of ’19 has some things in common with the class of ’99, there are some important differences.

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