had no chance whatsoever of making a profit, either because the people who put together the business plans were dreamers/idiots or were out to bilk a gullible bunch of investors. Believe me, there were plenty of gullible investors out there willing to dump money into what I call the www.dumbassidea.com companies, things like trying to sell pet food cheaper than you can buy it at WalMart, only they forgot to include shipping costs in their calculations. Whether it was stupidity or fraud, you have to wonder if they thought the old joke "We lose money on every sale but make it up in volume" was actually a business plan.
There were some other companies that actually tried to sell a viable product, like VA Linux (now VA Software). Shortly after they went public, their stock soared to about $300 a share. It now sells for $4.30, with a 52 week low of 80 cents. A lot of people lost money on that one.
Current Events » in reply to ENRON was something like a 60 billion dollar swindle. It had absolutely no chance of succeeding, but was bled dry by its officers. These DOT-COMs had some reasonable chance of success, but not nearly…
Most of those Dot.Bomb companies...
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- Here come the jobs
- A drop in the bucket for the devasted IT area. I doubt if IT will EVER reach the employment levels of a few years ago. (n/t)
- Perhaps not...
- Fraud will always recur. Here are a few from the recent past:
- Definitely
- ENRON was something like a 60 billion dollar swindle. It had absolutely no chance of succeeding, but was bled dry by its officers. These DOT-COMs had some reasonable chance of success, but not nearly… (n/t)
- Definitely
- Fraud will always recur. Here are a few from the recent past:
- Perhaps not...
- A drop in the bucket for the devasted IT area. I doubt if IT will EVER reach the employment levels of a few years ago. (n/t)