Deep learning got started when Hinton observed that a certain way of training restricted Boltzmann machines wouldn't get stuck as easily, and hence by pretraining the network as if it were an RBM and then switching to backprop, it wouldn't get stuck in a local minimum as early.
As I understand it, nowadays the best method looks something like a generalization of Newton's Method, wherein the direction you move takes into account the second differential and not just the first differential or direction of sharpest descent. You move furthest in the directions that curve the least, and move the least in the directions that are most sharply curved. It turns out that this (plus some other tricks) make it way easier to follow continuous gradients in big weird parameter spaces, so now it's possible to train deep nets, which are a kind of continuous gradient in a big weird parameter space.
Tl/dr: People figured out how to move better through the parameter space of neural networks, by taking into account the second differential plus some other tricks. So now we can train deeper nets.
[0] https://en.wikipedia.org/wiki/History_of_supercomputing#Hist...
The rectified linear unit also converges about 75% faster than the classic Sigmoid or Tanh. the ReLu is F(x) = max(0, x) so the gradient propogated is 1 rather than a more "curvy" value.
When I read content about 'deep learning' neural nets today I don't see anything especially different to what my (admittedly shallow) understanding of neural nets was back then. So what I'm missing mainly is - what changed? Is it just that advances in compute power mean that problems for which neural nets were impractical have now become practical? Is there something different about the way neural nets are employed in 'deep learning' that is different than the neural nets that were discussed in the past?