Tech-hype is not simply exaggerated optimism but a deliberate political strategy that shapes collective imagination and serves elite interests. Drawing on lessons from the dot-com bubble, the article shows how speculative capital and media myths fostered a culture of excess that empowered tech founders and expanded their political influence. Today, sociotechnical fictions such as artificial general intelligence sustain similar dynamics, channelling investment and legitimising techno-authoritarian agendas. To resist this, the authors call for “hype literacy” so regulators, journalists, and citizens can identify hype’s political intent, understand who benefits, and safeguard democracy from Big Tech’s colonising narratives.