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The Dot-com bubble started in 1993 with the first release of the Mosaic browser. More and more people were purchasing computers for their homes, and more of them were beginning to master the technology of the Internet. Shares of Internet companies began to rise up. The popularization of the new technology gave impetus to the emergence of hundreds of new companies that easily found investors, entered the stock market and actively increased their capitalization. It was then that such giants as Amazon (1994) and eBay (1995) were born. It seemed that the Internet increases the income of any company at times. Big business also succumbed to the temptation, starting to introduce it into their business processes.
Initially, the Internet was seen as a tool for the implementation of a business process that gives a new impetus to development. However, then the Internet began to be perceived not as a tool, but as a business process itself, capable of generating income from invested capital. And everyone began to use it, especially young companies. Instead of finding and solving the problems of business and society, they offered various variations of the Ponzi scheme. And up to a certain time it worked.
The bubble burst on March 10, 2000, when the NASDAQ Composite index fell, although it had doubled its annual performance before that. Along with the fall, most Internet companies went bankrupt. Some of them have been liquidated or sold. Some executives were even convicted of fraud and embezzlement. Even very large players such as WorldCom and NorthPoint Communications have suffered. This was due to the fact that most business models were not focused on improving or creating business processes, but only on advertising campaigns and attracting more and more new investors.
Some experts believe that almost the same processes that took place during the Dot-com bubble are taking place in the crypto industry. They note many similar signs and predict a big crisis in this industry, predicting the bankruptcy of more than 60% of all crypto projects.
