Floppy storage had stagnated since the mid 80s. Files were getting bigger. Digital cameras finally existed. MP3 players existed.
Clearly the time was right for a new floppy disk. The people crave a new floppy disk. Who will win? Zip? Ls120? Caleb uhd144? PocketZip?
Nope! It'll be CD burners for a couple years, then flash memory will eat the lunch of any other portable media forever.
@foone Wasn't there also some kind of Bernoulli floppy disk aroud this time? Memory's fuzzy.