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No, it was different. People were saying that the very nature of the entire economy had changed permanently. And that that change came with dramatic, almost ove
by damoncali 16y ago
No, it was different. People were saying that the very nature of the entire economy had changed permanently. And that that change came with dramatic, almost overnight increases in the value of everything due to increased communications.
Books were written about the supposed phenomenon.
- achompas 16y agoI've cleaned up my comment for clarity's sake, but I basically argue that we might be seeing the same phenomenon again with online advertising.
- jhamburger 16y agoWhat Damoncali is saying is that the hysteria wasn't focused on particular companies or business models really, it was that people believed we were in the middle of a one of a kind economic paradigm shift rendering valuation concepts like 'profitability' obsolete. "[There is] an increasing conceptualization of our Gross Domestic Product – the substitution, in effect, of ideas for physical value." -Alan Greenspan When you start hearing quotes like that from people in charge, then you know we're really in big trouble.
- achompas 16y agoSorry, you both make great points. What's the context surrounding that Greenspan quote, though?