Dien Rice
May 15, 2001, 02:27 PM
What's the future of ecommerce and the internet?
I just read the following fascinating passage.... (I'll explain why it's fascinating below.)
See what you think.... Here it is....
The revolutionary product took the world by storm. The industry responded to the feeding frenzy. New industries grew up. Entrepreneurs rocketed to millionaire status. VCs funded anything that seemed remotely related to the revolution.
Then came the bust. Stock prices halved. The technological flowering was over. Becoming a millionaire was hard again.
Does that description sound kind of familiar? Now read on....
But it was in the ensuing decade that the revolution really entered the mainstream of business, long after acquiring the new technology had ceased to be a major corporate event.
The above words come from an article in Infoworld magazine, published in February, 1985. These words are about an earlier bubble, the "business-computing" market crash of 1969-70.
However, despite this market crash, as we know it didn't mean the end of "business-computing." You might say that out of the ashes of this crash, arose many of the major companies we know today, such as Intel, Microsoft, Compaq, and Apple.
Certainly at least two of these (Microsoft and Apple) were started by beginners in what they were doing.... As we know, Apple really started out of a garage. Microsoft was started by two university dropouts....
Now, we've seen the "internet tech crash" of 2000-2001. Many have fled the scene and want nothing to do with it. But what do you think the chances are that history could repeat itself?
Who knows what the future might bring with this technology.... Which companies will be the new Microsofts, Apples, Intels, and Compaqs to arise out of this crash?
Just some food for thought....
Dien Rice
I just read the following fascinating passage.... (I'll explain why it's fascinating below.)
See what you think.... Here it is....
The revolutionary product took the world by storm. The industry responded to the feeding frenzy. New industries grew up. Entrepreneurs rocketed to millionaire status. VCs funded anything that seemed remotely related to the revolution.
Then came the bust. Stock prices halved. The technological flowering was over. Becoming a millionaire was hard again.
Does that description sound kind of familiar? Now read on....
But it was in the ensuing decade that the revolution really entered the mainstream of business, long after acquiring the new technology had ceased to be a major corporate event.
The above words come from an article in Infoworld magazine, published in February, 1985. These words are about an earlier bubble, the "business-computing" market crash of 1969-70.
However, despite this market crash, as we know it didn't mean the end of "business-computing." You might say that out of the ashes of this crash, arose many of the major companies we know today, such as Intel, Microsoft, Compaq, and Apple.
Certainly at least two of these (Microsoft and Apple) were started by beginners in what they were doing.... As we know, Apple really started out of a garage. Microsoft was started by two university dropouts....
Now, we've seen the "internet tech crash" of 2000-2001. Many have fled the scene and want nothing to do with it. But what do you think the chances are that history could repeat itself?
Who knows what the future might bring with this technology.... Which companies will be the new Microsofts, Apples, Intels, and Compaqs to arise out of this crash?
Just some food for thought....
Dien Rice
