I was recently perusing the nytimes websites for articles pertaining to Amazon, Inc. and there is this feature in which you can sort the search results by the oldest first and vice versa. As I was browsing the listing, I could see the pattern of gloom for the companies. Competition, stock rising, high earnings but at a loss in profit, and it was just funny to me that this all occured in the span of 2 years. From 1997-1999, I could see the bubble burst that no one expected at the time. People were investing in companies that had no sound business plan and whose leaders were basically shooting darts at a board, hoping something would come up.
It’s pretty crazy as I think about it, that this same scenario came happen in the next two to three years. Nothing is safe, money can’t just be thrown around like paper. Web 2.0, is a fantastic time to be a web entrepreneur, but somehow its making me feel a little giddy because there have been reports of the next bubble bust. I mean, other than Google who else is making their shareholder’s happy. It could be the market, or it could be the industry itself. People are coming into the industry and hoping their great idea can somehow make money.
This totally an opinion piece made from observation and I don’t really want people targeting me and wishing my first born doesn’t make it to this earth, but if you have any opinions please share it.