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Being at a startup in 2001 when funds went tragically south right after 9/11, there is no way the current market is even close to this. Things were BAD. Unles
by Zimahl 14y ago
Being at a startup in 2001 when funds went tragically south right after 9/11, there is no way the current market is even close to this.
Things were BAD. Unless you had a hint of profitability and located in the valley, it was almost impossible to get funds. Investors literally said they weren't going to invest for at least 6 months and see how the economy fairs (and it didn't fair well). Everyone was gun shy because they had lost a ton of money on insane valuations already, so even legitimate businesses were getting overlooked.
Really, the (first) tech bubble pop set the entire industry back for probably close to a decade. I often wonder how many great ideas went unfunded and dissolved because investors were just too guarded.
- yason 14y agoInvestors literally said they weren't going to invest for at least 6 months and see how the economy fairs (and it didn't fair well) ... so even legitimate businesses were getting overlooked. Sounds like a golden time for a contra market investor.
- Zimahl 14y agoDefinitely. But, just like everyday people, investors can be sheep. The savvy see an opportunity, just like investing in stocks during a down market where you can actually get good value. Those looking for a free ride with big returns put there money elsewhere and that doesn't help anyone.