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> Did people expect the dotcom bubble? Greenspan called it "Irrational Exuberance" in 1996 [1], although I personally don't remember it being that bad then. B
by ckastner 9y ago
> Did people expect the dotcom bubble?
Greenspan called it "Irrational Exuberance" in 1996 [1], although I personally don't remember it being that bad then.
By 1999, the word "bubble" was all over the media.
[1] https://en.wikipedia.org/wiki/Irrational_exuberance https://en.wikipedia.org/wiki/Irrational_exuberance
- lokedhs 9y agoBack at the end of the dotcom bubble, I was working at some expo, messing with some servers behind a small stage that the vendor had set up. At the stage was the former finance minister of Sweden speaking about "the new economy" which is what the bubble was called in Sweden before it burst. I specifically remember hearing him address the question (it might have been rhetorical or from the audience) as to how this was sustainable given that most of companies involved didn't actually earn any profits. Most of the overvalued companies involved during the bubble was consultancy companies making web pages for other companies. I still remember being somewhat stunned by the answer he gave. He explained that that was not an issue since the new economy worked differently compared to the old one. At that point I shook my head, focused my attention back on the servers and came to the conclusion that the bubble would burst sooner than later.
- dev360 9y agoBredbands-Jesus!