The Dot-Com Bubble: When Herd Mentality Destroyed $5 Trillion in Tech Investing
In March 2000, the NASDAQ peaked at 5,048—more than double its value from a year earlier. Companies with no revenue, no profits, and often no viable business model were worth billions. Pets.com spent $27 million on advertising (including a Super Bowl ad) and collapsed nine months after its IPO. Webvan raised $800 million to deliver groceries. It shut down after burning through all the money in less than two years. ...