dot com bust
When the dot com boom faltered in 2000/2001
Once upon a time when the www was still a new thing, a bunch of people realised the possiblity for income from this new resource. Thus, the comercialisation of the www began. As computer and internet access became more accessable via cheeper prices and more availablity, the amount of money dot coms brought in was in some cases incredible. Thus, we ended up with dom com billionare senarios where (for example) 21-year-olds were becomming rich in some cases very quickly.
Unfortunatly, it wasen't meant to last. Much of the dot com income came from advertising via banner ads and pop-ups.
Unfortunatly, as people grew tired of these and learned to ignore the banners and close the pop-ups the second they appeard (and started using pop-up blockers), the value of online advtertising rapidly fell. Suddenly, the amount of revenue gained from ads plumeted and (as an example) it started taking like thirty clicks or views of an ad to earn as much compensation as one would get.
Saldly, a lot of dom coms coudlen't keep up and what accounted for much on their income vanished.
In a matter of months, what was a booming industry suddenly became a bust industry. dom coms were failing right left forward and center, people were losing jobs with their entire investments lost because the companies stock prices plumeted and the job market was flooded with former dom com employees desperatly seeking employment.
Since so many people thought the dom com boom would last forever, they had invested a lot of money in dot com companies. They too ended up losing massive revenue and in some cases had to lay off a employees their losses were so severe.
As a result, we now have more unemployed computer professionals then any other industry COMBINED and finding a computer job is incredibly difficult.
Once upon a time when the www was still a new thing, a bunch of people realised the possiblity for income from this new resource. Thus, the comercialisation of the www began. As computer and internet access became more accessable via cheeper prices and more availablity, the amount of money dot coms brought in was in some cases incredible. Thus, we ended up with dom com billionare senarios where (for example) 21-year-olds were becomming rich in some cases very quickly.
Unfortunatly, it wasen't meant to last. Much of the dot com income came from advertising via banner ads and pop-ups.
Unfortunatly, as people grew tired of these and learned to ignore the banners and close the pop-ups the second they appeard (and started using pop-up blockers), the value of online advtertising rapidly fell. Suddenly, the amount of revenue gained from ads plumeted and (as an example) it started taking like thirty clicks or views of an ad to earn as much compensation as one would get.
Saldly, a lot of dom coms coudlen't keep up and what accounted for much on their income vanished.
In a matter of months, what was a booming industry suddenly became a bust industry. dom coms were failing right left forward and center, people were losing jobs with their entire investments lost because the companies stock prices plumeted and the job market was flooded with former dom com employees desperatly seeking employment.
Since so many people thought the dom com boom would last forever, they had invested a lot of money in dot com companies. They too ended up losing massive revenue and in some cases had to lay off a employees their losses were so severe.
As a result, we now have more unemployed computer professionals then any other industry COMBINED and finding a computer job is incredibly difficult.
I lost my job durring the dot com bust and wasen't able to get another computer job. I'm now working in a warehouse for minimum wage.
dot com bust by anonymous November 6, 2004
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