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The late '90s were fun. Money was flying about in all directions and all you needed to do was stick your hand up and grab some of it. Your silly internet comp
by jasonkester 12y ago
The late '90s were fun.
Money was flying about in all directions and all you needed to do was stick your hand up and grab some of it. Your silly internet company would get $25 Million for the worst idea you could think of. If you'd read a "For Dummies" book, you could take your pick of $75/hr contracts or just grab as much $200/hr freelance work as you felt like. You could stick that surplus money into the market by picking any stock with an "e" in front of the name and watch it double in value every few weeks.
Then 2000 happened. And it went back to normal.
Normal.
Not a disaster. Not the end of the world. Just back to regular jobs for regular companies with regular business plans for regular developer wages. If you were good at what you did, you were fine. If you were a converted business major, you went to law school. No sweat.
Everybody (at least everybody I was aware of) saw it coming. We were in a bubble. Yahoo wasn't going to double a fifth time that year, so it probably wasn't a good idea to accept that 10x leverage your brokerage offered and dump your life savings into it. We still partied like it was 1999 (since it was), but we were all ready for the day when the party ended.
Then it did. And we went on with our lives.
We might just do the same thing in a year or two. And again, it probably won't be that big a deal.