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I remember the days when adding the word "e-commerce" to your penny stock had the same effect. Good times.

by mv4 9y ago

pavlov 9y ago
Back in the dot-com days there was a fish processing company called Zapata that decided to become an Internet portal. As their stock soared, Zapata tried to buy Excite.com for $1.6 billion in stock but didn't succeed. Zapata finally pulled the plug in January 2001: "The news of Zap's demise marks the end of an era. The Internet business was so heady back in 1998, when the portal-wanna-be first came on the scene, that people scoffed only slightly at the news that an animal by-products company was taking on Yahoo! in the battle for those formerly coveted viewers." https://www.forbes.com/2001/01/09/0109zapata.html#70a49b773a8b https://www.forbes.com/2001/01/09/0109zapata.html#70a49b773a... We're probably nearing the point where the Zapatas of this crypto-token boom start using their inflated valuations to try to acquire more traditional tech companies.
- mv4 9y ago
  I am starting to see the same patterns.
- SkyMarshal 9y ago
  >We're probably nearing the point where the Zapatas of this crypto-token boom start using their inflated valuations to try to acquire more traditional tech companies. The crypto co's aren't going to try to acquire companies, first b/c most traditional companies have no product of interest to a decentralized platform, and second b/c most crypto's are set up as non-profit foundations. What they will be doing soon is raiding top traditional tech companies for their best engineering talent with promises of new tech to work on and great wealth.
gozur88 9y ago
Heh heh. I worked for a company that rebranded itself as "b2b" back when that was the buzzword. We didn't get a 24x pop, but I was amazed at the extent to which our little company was suddenly worth so much more even though our product and operations remained exactly the same.

I remember the days when adding the word "e-commerce" to your penny stock had the same effect. Good times.

by mv4 9y ago

I remember the days when adding the word "e-commerce" to your penny stock had the same effect. Good times.

Back in the dot-com days there was a fish processing company called Zapata that decided to become an Internet portal. As their stock soared, Zapata tried to buy Excite.com for $1.6 billion in stock but didn't succeed. Zapata finally pulled the plug in January 2001: "The news of Zap's demise marks the end of an era. The Internet business was so heady back in 1998, when the portal-wanna-be first came on the scene, that people scoffed only slightly at the news that an animal by-products company was taking on Yahoo! in the battle for those formerly coveted viewers." https://www.forbes.com/2001/01/09/0109zapata.html#70a49b773a8b https://www.forbes.com/2001/01/09/0109zapata.html#70a49b773a... We're probably nearing the point where the Zapatas of this crypto-token boom start using their inflated valuations to try to acquire more traditional tech companies.

mv4 9y ago
I am starting to see the same patterns.
SkyMarshal 9y ago
>We're probably nearing the point where the Zapatas of this crypto-token boom start using their inflated valuations to try to acquire more traditional tech companies. The crypto co's aren't going to try to acquire companies, first b/c most traditional companies have no product of interest to a decentralized platform, and second b/c most crypto's are set up as non-profit foundations. What they will be doing soon is raiding top traditional tech companies for their best engineering talent with promises of new tech to work on and great wealth.

gozur88 9y ago

Heh heh. I worked for a company that rebranded itself as "b2b" back when that was the buzzword. We didn't get a 24x pop, but I was amazed at the extent to which our little company was suddenly worth so much more even though our product and operations remained exactly the same.