Starting with the beginning, the professor had broken up the event into five stages
- An innocent beginning
- Boom!!!
- Insanity!!!
- Bust!!!
- The crawl back
At this time there were a few large company's that control much of the information online. They were Prodigy, CompuServe, GEnie, AOL, and Delphi. Most of their service was subscription base and being of a online community. For a while these five companies did very well till the year 1994. That's when free range media (AKA "The Web") have came around and completely changed everything.
In this time people are starting to learn how to publish things on the web and how to find information without paying for the subscription. Many new business had pop all around to set up new website for companies These incould Netscape, Wired, Hotwired, MCL, and Gramercy Press. As a side note our professor had already left Microsoft to build his new company. In this time he partnered up with another company to build a new website for the NFL. Crazy huh 0_0
Anyway in 1996 their was a boom in the business. People had started to realize theirs a way to make money in the virtual world. In this time some well known companies have been form. Those included CompuServ, Thomas Target Media, Yahoo!, Amazon (still was a book store), and Usweb. Oh and another thing to add was that our professor had went to supper bowl xxx for working well on the NFL's webpage and his business was doing great.
Everything is doing well till 1997 came around. Our Professor has said that between 1997-2000 was the time when insanity was coming. This was the time when people were buying and selling stocks like crazy. All but one of the ancient companies had survived the new age of the internet, which was AOL. This company had become so large till the point it bought small companies left and right to become more larger. For our professor, he's doing well in this time period. He even had dinner meeting with the people of WSA predictions to do some business.
With all of this happening, it can be describe as a bubble that is about to burst. There are many reason as to why a economy would collapse. But an easier way to explain the downfall was that too many people where inflating the price of stocks. It keep on going up and up and up and just crash. This happen in the year 2000. Many companies who have made a name of themselves have crashed and went out of business. Even well known companies like Microsoft have take a hit. There stocks when from $120 to just $60 in a couple of days. For the Professor, he lost some money during the bust of the internet.
It wasn't until 2002 and 2003 when the market was starting to rebound. Companies like AOL have become a part of Time Warner. Amazon.com post a profit even though many people believe it would fail. And our Professor is bouncing back.
Overall I consider this lecture very interesting. I have no clue this was happening when I was little. Probably because I was only 4 when all of this was happening but learning about the past is very interesting.
In this time people are starting to learn how to publish things on the web and how to find information without paying for the subscription. Many new business had pop all around to set up new website for companies These incould Netscape, Wired, Hotwired, MCL, and Gramercy Press. As a side note our professor had already left Microsoft to build his new company. In this time he partnered up with another company to build a new website for the NFL. Crazy huh 0_0
Anyway in 1996 their was a boom in the business. People had started to realize theirs a way to make money in the virtual world. In this time some well known companies have been form. Those included CompuServ, Thomas Target Media, Yahoo!, Amazon (still was a book store), and Usweb. Oh and another thing to add was that our professor had went to supper bowl xxx for working well on the NFL's webpage and his business was doing great.
Everything is doing well till 1997 came around. Our Professor has said that between 1997-2000 was the time when insanity was coming. This was the time when people were buying and selling stocks like crazy. All but one of the ancient companies had survived the new age of the internet, which was AOL. This company had become so large till the point it bought small companies left and right to become more larger. For our professor, he's doing well in this time period. He even had dinner meeting with the people of WSA predictions to do some business.
With all of this happening, it can be describe as a bubble that is about to burst. There are many reason as to why a economy would collapse. But an easier way to explain the downfall was that too many people where inflating the price of stocks. It keep on going up and up and up and just crash. This happen in the year 2000. Many companies who have made a name of themselves have crashed and went out of business. Even well known companies like Microsoft have take a hit. There stocks when from $120 to just $60 in a couple of days. For the Professor, he lost some money during the bust of the internet.
It wasn't until 2002 and 2003 when the market was starting to rebound. Companies like AOL have become a part of Time Warner. Amazon.com post a profit even though many people believe it would fail. And our Professor is bouncing back.
Overall I consider this lecture very interesting. I have no clue this was happening when I was little. Probably because I was only 4 when all of this was happening but learning about the past is very interesting.
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