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In 1995, the disproportionate growth of companies that based their activity on the Internet began. It was a cycle that reached its peak in the year 2000 and caused an economic bubble with practically all the companies in the sector overvalued. It all ended with the loss of millions of investors and the billionaire devaluation of the stock market, especially the Nasdaq.

I live in Spain, in 1992 none of my friends had a PC as it is known today. The luckiest ones had an Amstrad and had to ask their parents to load Pac-Man for them (you practically had to program to load the game). The internet connection was like: What is that? What is it for?
The phone was a landline, you had to call "Paula" at the time you had agreed to call and risk being picked up by her father or worse, her older brother.

The world was working great (or not so much) and I don't think many Europeans, Africans, Asians or South Americans felt the need to find companies on the internet. In the year 2000, I bought my first PC for €1,000 with a 10GB hard drive and 1GB of RAM. I was one of the last in my environment because, since the release of Windows 98 two years ago, the situation had changed so much that to talk to Paula now you had to have Messenger😅

In those years, the enormous injection of capital that created that bubble and the losses of many investors resulted in greater control of investments. Despite this, in the years after the bubble, we could see the greatest growth sustained by external financing (Google, Facebook, Amazon,...), all grew based on debt and investments.

That technology of 1995 did not offer much more at that time than the internet presence of a brand. Some forums, some online bookstores, some online magazines, some browsers, and a lot of corporate websites. In 2000, when I entered the Internet, YouTube, Google, eBay, and some other future giant were already there, but my great ally was eMule (free 🎶 ).

I'm just telling this because a lot of people didn't experience that. It is difficult if you have not experienced it, to get an idea of ​​how different the world was without the internet and mobile telephony. Now, 30 years after Amstrad, the evolution, the opportunities it has created and the solutions that the Internet has been finding for many businesses are clear.

When we now see new technology being born and we observe the growth of the market, we can establish some similarities: overvalued projects, very expensive announcements (NBA, F1, Superbowl,...), investors who think that everything will grow without limits and do not analyze the projects and how these projects generate economy, very fast growth, ... Yes, for many the dotcom crisis was a drama, but over time it brought us a global change. Hey dude, again reviewing history 💤

Sorry, I get bored, but I see so much skepticism when markets crash that I wish people were aware of what happened. After the crisis, investors looked for projects that they trusted, for the solutions that prjects provided, for the needs that projects covered, and not so much because they could make money in the short term.

Was every website a scam?

No, what happened was that many companies and investors began to buy without knowing what they were buying and without having any value references. Everyone noticed how much this or that project had grown in price and most wanted to take advantage of the moment.
Many of us enter the markets when we find out about things in the mainstream media. There is a phrase attributed to Rockefeller: "when even your shoeshine boy invests in the stock market, it is time to sell everything"
It may not be the time to sell everything, but it is surely the time to analyze very well where you invest every penny.

This post was also published in read.cash by me, The Crazy Dude. If you liked follow me to see more like this!

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