Dot.com to Dot.Bomb
The story of the dot com boom,
bubble and burst cycle as told by our professor who lived and worked through it,
using dinosaurs. The nineties were an interesting time. The internet was in the
process of becoming the next great entrepreneurial frontier and everyone who
could get into the game was. In the early part of the explosive growth the
internet was viewed mostly as a fad or a tool for university students and major
corporations to utilize for academic and research purposes. There was once a
time when not everyone had access to the net and not everyone viewed it as part
of their normal daily routines. This was a time that I lived through as well,
although I was in my adolescence during the Clinton years I still remember most
of the topics and some of the major events covered. The companies such as GEnie,
CompuServe, Prodigy, AOL and of course Netscape were some of the ones that I
used myself. While the net was still young the majority of people who thought
that it would become something large didn’t quite understand how large it would
become. The world wide web project broke open the flood gates to the world. Now
that everyone was connected to the same inter-connected net anyone could be in
instant contact with anyone else in the world through the medium of a computer.
A new form of communications was born and those who were in the forefront stood
to make a lot of money, if they could adapt. Adaptation was the key here though
and because of trepidations and just general confusion on industry early
adapters most of those who got in early were doomed to fail. Ultimately what
ended up causing the massive burst of the bubble was the greed of investors,
simply because a company declared itself an online company was often enough to
garner that company millions in initial investment capital as investors were clamoring
over each other to “get in on” the next big thing. The failure came when those
companies who swelled so large so quickly were no longer able to sustain their rate
of growth. So much money was funneled in and so many people were instantly cash
flush that the system couldn’t possibly stand under its own weight. Of course,
there is still an internet around and there is still money to be made, however
the bubble has popped and now the industry environment has settled into just
another everyday part of life. Much like the telecoms.
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