Post by anenro on Mar 25, 2023 19:25:05 GMT 4
The dot-com bubble was a period of foolish optimism and speculation in the nascent tech industry, with countless startups achieving sky-high valuations based on little more than a catchy name and a promise. But when the bubble burst in March of 2000 — exactly 23 years ago — many of those companies were revealed to have little to no real value, leaving investors and markets reeling for years.
Today, we see echoes of that same speculative fervor and its disastrous consequences all around us: the implosion of FTX and crypto markets, empty hype surrounding the metaverse, enormous layoffs at bloated tech companies, the ominous rise of AI, and, most recently, the shocking implosions of several once-trusted banks.
Can we learn from history? Or are we doomed to repeat it?
I still remember when a very smart person took advantage of naive but rich people and sold them beach stones and called them, "Pet Rocks"-- I am still laughing at the dumb people who actually paid plenty of money for a worthless beach stone / rock.
And what about the "American Girl" dolls? Expensive!! And they are being made in China. Some American doll. Huh?
