IMO there was no personal computer "crash." There was an evolution of the still new and immature personal computer industry. The changes within immature markets and industries are rapid and sometimes extreme, leading to shakeups and adjustments. The "home computer" market faded as standards consolidated and people wanted the same computers at home and work. "Home computers" were an artificial distinction from the start, as much about marketing as anything else. The companies that produced products suited to the developing market continued to survive. That happens all the time in every industry, only it's more extreme when industries are immature.
Of course, to those employed in an immature industry and the consumers invested in new technology, a loss of jobs and consumer support may appear to be a "crash." But with a broader perspective, it isn't.
Modern examples of a "crash" include the North American video game bubble bursting in 83-84, the "dot com" tech bubble bursting in 99-01, and the US real estate bubble that started bursting in 2007. These bubbles are created because of rampant speculation which overvalues a market segment leading to over-investment and unrealistic growth that is unsustainable.
Using these other examples for reference, we can see the personal computer industry did not crash in the 80s. It evolved. Now, we may not always like how it evolved, but that still doesn't make it a crash
Edited by akator, Wed Nov 13, 2013 9:20 AM.