I very much beg to differ. I remember it very well, as the company I worked for laid off almost all of their workers and it was impossible to find a job. All companies froze hiring. People lost fortunes (including retirement accounts). The nasdaq went from 4800 to 1840. There was a major recession.
The amount of malinvestment in AI is so much worse than the Internet bubble. It’s basically the only reason the US economy didn’t contract hard the last few months. Making data centers for AI has been creating a lot of construction jobs.
It’s going to be painful when it pops, and it needs to happen sooner rather than later.
Indeed. It’s masking how bad the US economy actually is. I read recently that about a third of economic activity in the US is currently a few big tech companies pumping each other. Take that away and the underlying picture is ugly.
I only know a little about data center buildouts, but my understanding is that GPUs and web servers aren’t built out the same way. That said, I’d expect GPUs just need that much more power, and having more power than you need for a web server is fine.
The dotcom bubble destroyed a lot of retirement accounts people had no ability to choose the companies invested in as they were often generic, broad, investment portfolios. It also killed a lot of lower end white collar jobs, and damaged a lot of local government investments, leading to steep declines in those services. There are numerous other ways non-tech people were affected, but I don’t feel like writing a bunch.
I am interested to know how old you were when that dotcom bubble popped, though.
The Internet bubble popped in 2000. It didn’t change anything for anyone unless you happened to be a CEO of a dotcom with millions of shares.
Or you were close to retirement and your pension fund just cratered.
Stop looking at the business class. Those assholes have each other’s backs. Look down to the ordinary people and see the damage done that nobody bothers reporting on.
maybe you didn’t live in a city that had a lot of the Internet start-ups, but the Internet bubble was felt by millions of people. I lived in Seattle and it had a lasting impact on everything.
The dotcom bubble pop took out a lot of funds and a lot of businesses. A lot of things you could buy on the Internet stopped being available online for a bit as so many vendors tanked. Ultimately the equivalent of almost everything you would have remembered came back, but there was a retreat.
It doesn’t matter when it pops (notice I didn’t say if). The stock market isn’t the industry.
The Internet bubble popped in 2000. It didn’t change anything for anyone unless you happened to be a CEO of a dotcom with millions of shares.
I very much beg to differ. I remember it very well, as the company I worked for laid off almost all of their workers and it was impossible to find a job. All companies froze hiring. People lost fortunes (including retirement accounts). The nasdaq went from 4800 to 1840. There was a major recession.
The amount of malinvestment in AI is so much worse than the Internet bubble. It’s basically the only reason the US economy didn’t contract hard the last few months. Making data centers for AI has been creating a lot of construction jobs.
It’s going to be painful when it pops, and it needs to happen sooner rather than later.
Indeed. It’s masking how bad the US economy actually is. I read recently that about a third of economic activity in the US is currently a few big tech companies pumping each other. Take that away and the underlying picture is ugly.
Thats disgustingly horrifying.
Hopefully a lot of those data centers can be repurposed for cloud data and web hosting.
I only know a little about data center buildouts, but my understanding is that GPUs and web servers aren’t built out the same way. That said, I’d expect GPUs just need that much more power, and having more power than you need for a web server is fine.
The dotcom bubble destroyed a lot of retirement accounts people had no ability to choose the companies invested in as they were often generic, broad, investment portfolios. It also killed a lot of lower end white collar jobs, and damaged a lot of local government investments, leading to steep declines in those services. There are numerous other ways non-tech people were affected, but I don’t feel like writing a bunch.
I am interested to know how old you were when that dotcom bubble popped, though.
Or you were close to retirement and your pension fund just cratered.
Stop looking at the business class. Those assholes have each other’s backs. Look down to the ordinary people and see the damage done that nobody bothers reporting on.
maybe you didn’t live in a city that had a lot of the Internet start-ups, but the Internet bubble was felt by millions of people. I lived in Seattle and it had a lasting impact on everything.
The dotcom bubble pop took out a lot of funds and a lot of businesses. A lot of things you could buy on the Internet stopped being available online for a bit as so many vendors tanked. Ultimately the equivalent of almost everything you would have remembered came back, but there was a retreat.