/biz/ - Business & Finance

>>50725002
Replace 2015-2021 with 1995-2001

>>50725020
In regards to what, tesla, crypto, nfts, metaverse?

Internets was huge. Think of the South Florida real estate boom in the 1960s. I remember Living.com sold for $8Million cash. The Surgeon General at the time signed on to WebMD and got a salary of like $5million per year for just his likeness. It was like Manifest Destiny westwards, the unknown, uncharted. Crazy. There was company in Austin that sold Mac Clones, got bought out by PC something .com for $25million cash. It was 5 guys in a rented house making Mac Clones from spare and discarded Macs. But it all came crashing down when people realized it was just smoke and wind. Came down hard. Banks has lines of new cars (Porsche Boxsters were the hip techy cars of the time) lined up outside their branches with for sale signs. You could find yachts cheaper than RVs. People had borrowed millions against their stocks, when stocks fell the banks came to collect and no one had money.

>>50725002
kys zoomer

A couple companies (google/microsoft) bought all the cheapies. Used them as value added onto their existing products.

>>50725205
Were people buying domains like NFTs today? Also do you have any other interesting stories about dotcom bubble fuckery?

>>50725002
I think it had something to do with my parents getting a divorce.

>>50725338
My parents in 2008

>>50725002
everyone was buzzing about what their website would do/sell. Nortel networks was a parricularly funny one. but there were a lot with funny names that at the time sounded cool. Intertron, Exoplanet - we'll sell asteroids as magic to Chinese. ..etc etc Everyone had huge dream websites and no real business. Then a few started growing and taking over certain areas like google and amazon but no one knew how servers/dbs/internet really worked so it was easy to follow the hype. No one and I mean no one could have guessed Google or Msft or whatever would come out on top. it was chill though, people were way more relaxed back then, I worked at AT+T and had a comfy view of the madness.

>>50725002
I remember driving into Sydney and all the big corporate buildings had changed the logos on their skyscrapers to ".com". So what was ING was now ING.com all lit up.

>>50725640
>>50725680
How similar was it to the app boom in the 2010s?

>>50725002

Ahhhh. The Dot Com Bubble. People were spending 18 hours a day on AOL. That's an example of consumer sentiment. If you looked up a technical term -any term at all- and stood on a street corner and yelled it out loud some private equity fund would have someone gran you by the throat, drag you in an alley, and offer you a job making four times your current salary. That's called investor sentiment.

Sentiment was high. I went from making 28,000 a year to 125,000 within two years.

>>50725002
it was similar to what is happening now in crypto. make sure you pick the right one, or just sell everything.

>>50726323
yeah except way worse since interest rates have never been this low and people is overleveraged in all kinds of shit. the nasdaq hasn't even hit sub 10k and mumufags already think we bottomed.

>>50725002
You know Elon Musk? He and his brother made a company called Zip2 that basically licensed travel guides to newspapers. Does that sound extremely useless? Well, in 1999 Compaq Computers bought the company for $305 million.
Elon used the money to buy a Mclaren F1 which he drove uninsured and later crashed like a fucking idiot.
And that is basically all you need to know about the dot com bubble.

>>50726437
I remember reading about Zip2 and wondering how the fuck that was profitable at all. Did it actually ever turn a profit?

>>50726575
I'm not sure, all I know is it did some shit with newspapers and advertising and city guides. And it sold for $305 million to be incorporated into the search engine Altavista. Which obviously got blown the fuck out by Google.

>>50725002
You are living it right now

>>50725002
When BTC goes to 3.5k you'll experience your own dotcom bubble. Make sure to debt max then if you want to make it.

You think anyone here is old enough to remember that?

>>50725316
Most nfts are worth Jack shit already and there's very few institutional/retail "investors" in them. The closest of this cycle was probably peak nft fomo earlier this year when every piece of dogshit fiver art cartoon animal would hit $1000 floor and last spring when every gay retard Chihuahua Inu shitcoin would hit $50m marketcap in a day. Just imagine that but with way more serious institutional money and normies falling for it

>>50727094
I remember Black Monday. Was a freshmen in college at the time.

>>50725002
You have to be 18 to.....oh, shit. Nevermind. Time flies.

>>50727116
I would rather buy pokemon cards than nfts and I did buy pokemon cards

>>50725115
yeah. unironically, it's weird how much the two time periods seem to rhyme.
people made insane money off shitty companies that made no profit as long as they had a website, tech workers were getting uppity with their "total comp" figures, you get the picture.

>>50725002
dotcom had the same investor mania, monkey throw a dart at the stock board and any portfolio went up. During dotcom we at least got an entire class of new tech across the stack - hardware, browsers, games, search engines, e-commerce, finance, chat rooms, social networking, etc. Now it's literally people cloning the same fucking ETH coin code and slapping on a new page and roadmap and calling it a day. Same with NFT projects. This modern craze is far worse in the sense that everything is plowed into a single focused ecosystem and so much of it really is worthless. Thankfully there are still some real good pieces of tech coming to maturity these past few years, things like 5G, Starlink, WASM, GPT-3, DALL-E 2, etc.

>>50727233
I buy both. I'll buy anything I can make money on that's legal, frankly. The difference being apart from some 1/1 nft art I collected for super cheap I actually like trading cards a bit kek

>>50727338
good shit anon, trading cards are a lot of fun and relatively easy to invest in. I've been getting into sealed product and throwing some money at that, less fun but I wanna give it a try just looking at some older sets from different TCGs doing extremely well and even in the worst case scenarios holding good value because some people like to draft them

>>50727316
It will be spectacular to see the crashes that are to come

Alright so there was this store that sold physical legacy media (like magnetic tape recordings of audio and video and early optical disc versions of the same thing) called Sam Goody.

One day Sam Goody added .com to it's actual name, the next day AOL merged with Time Warner, and then the Pets.com dog blew his brains out bud dwyer style at the SuperBowl and Amazon went to 1 cent.

Does that clear things up?

>>50727269
The only difference is crypto peaked at 3 trillion mcap while dotcom bubble peaked at 10 trillion

>>50725316
And yes, domains were for sure the original NFT. You could only get .coms, .orgs, and .nets for a looooooooong time, so good names were all snatched up by the mid 90s. This is why the post crash companies had retarded names missing vowels like flickr. When flash games were really exploding in the late 2000s someone bought bored.com for $50m to host an ad driven games portal, so yeah, very NFT vibes.

>>50725002
Well when a goyim investor and intelligent jews love each other very much the jews steal all the goyims money and become rich by crashing the market th end