What happened in the lead-up to the Internet Bubble burst of 2001? What went right, what went wrong, and what lessons did we learn? (Part 1 of 3)
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SHOW NOTES:
Original Tweet that inspired the show: https://x.com/forrestbrazeal/status/1719827334834913283?s=20
“Looking for recommendations: what’s the best book ever written about the dotcom bubble? Specifically looking for something that captures the emotions of that time as well as the mechanics”
THE BROWSER, THE NETWORKS, THE CARRIERS AND POSSIBILITIES
- Information was freely exposed to the Internet (and Intranets)
- It was Digital Transformation 1.0 era - Everything on the Internet
- The New Industrial Revolution
- Lots of focus on new Online Purchasing
- Lots of focus on new Telecommunications services (VoIP, VoD, etc.)
- Lots of focus on new media partnerships
EVERYTHING ALWAYS GOES UP, EVERYDAY, RIGHT?
- Massive network build outs
- Lots of Engineers and MBAs moved out to Silicon Valley
- Every startup built their own data-centers, networks, applications, etc.
- IPOs were happening every week
- Telecom vendors vs. Internet/Networking vendors
- Stock prices going up $1-2 per day
LESSONS LEARNED:
- Infrastructure has to match the ambitions
- Business models always come back to revenues and profitability
- Each wave can create the new big winners (and losers)
- Understand Manias vs. Fundamentals (where in the wave are we?)
- Stupid money eventually finds a bottom
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