The dot-com bubble, which began in the last decade of the twentieth century, was both an investor feast and a tragedy that had been brewing for years.In 1993, the NCSA organization of the University of Illinois at Urbana, Illinois, USA, published the first ubiquitous web browser in the history of the Internet, OSAIC.The first version of the OSAIC, Alpha, released in January 1993, was only available on XDO systems, and it was not until September of the same year that operating systems such as Actosh and DoS were supported.At this time, Mark Anderson, the core figure of the development of the osaic browser, and Jim Clark, the founder of the silicon map company, saw the broad prospects of the osaic browser, so the two worked together on April 4, 1994, in California, the United States to set up the "osaicunicatnrporatn" However, after the establishment of the osaic company, because the NCSA organization of the University of Illinois in the United States owns the trademark copyright of osaic, And the University of Illinois had already transferred the technology to Telescope Entertainment, so the Osaic development team had to completely rewrite the browser code.On October 13, 1994, the company's browser osaicscape09 was released, and although it was still a beta version, the browser was a major success and became the most popular browser at the time.On November 14, 1994, in order to avoid trademark ownership issues with NCSA, Osaic changed its name to Netscape Communications, Inc., and the browser was renamed "Netscape Browser".Before Microsoft's Internet Explorer was completed, Netscape was the most popular browser on the Internet at that time, although this browser and even Netscape eventually disappeared in the long river of history, but no one can deny the great contribution of OSAIC browser to the Internet.In fact, with the advent of the Osaic browser and Orldideb, the Internet began to attract public attention and made the Internet truly accessible to thousands of households.By 1996, a public website had become a necessity for most U.S. public companies.In the early days of the formation of the Internet market, people only saw that the Internet had the characteristics of free publishing and instant world information, but when people gradually began to adapt to the two-way communication on the Internet, direct business with the Internet as a medium and global instant group communication were completely opened.These new concepts have fascinated many young talents, who believe that this new Internet-based business model will emerge and hope to be the first to make money with the new model.This is the fundamental impetus for the emergence of the original Internet market!
An emerging market will inevitably attract the attention of investors, and due to the rise of new concepts, the stock prices of Internet companies have skyrocketed, and those investors who have invested in Internet companies have gained huge benefits, which has attracted more investors to invest in the behavior.Moreover, at this time, the immaturity of the Internet market has led to the fact that even an Internet company has only one concept, which can arouse the pursuit of many investors, so when more and more "concepts" appear, the popularity of the Internet market is naturally inevitable.As a result, with the success of a series of Internet companies such as Netscape and Yahoo, as well as the rapid expansion of old IT companies such as Microsoft, Oracle, and Cisco, the Internet market in the United States began to develop beyond the norm in 1995.In just six years, the entire Internet market has grown from scratch, and finally it took only six years to form a huge market with a market value of up to five trillion US dollars, and the previously unknown Nasdaq index has soared from only a few hundred points to the highest 513252 points in a short period of time!
The rapid rise of the Internet market has made this emerging market, which has not experienced much market test, sought after by many people, followed by a surge in the market value of those Internet companies, and the owners of those Internet companies will inevitably have a swelling of their hearts.For the owners of these Internet companies, the pursuit of many investors has made their net worth rise like a blow.This is no different from Chafu.As a result, the mentality of these Internet business owners who have become rich overnight by virtue of just relying on an "idea" or "concept" has inevitably changed.This money came so easily, so it was not worth spending it?
As a result, many Internet companies have begun to spend lavishly on their internal expenses, such as carefully customizing commercial facilities, providing employees with luxury vacations, and so on.The most important thing is that most of these Internet companies pay stock options instead of cash to corporate executives and employees, so when the company IPO, these corporate executives and employees immediately become millionaires.And a large part of these people will invest their new wealth in more dot-com companies.This snowballed and eventually grew bigger and bigger, creating a huge market worth $5 trillion in just six years.However, it is not the actual performance that supports such a large market, but one after another unbelievable "ideas" or "concepts".In other words, in such a big market, as long as you can come up with a sought-after concept, then you will instantly become a billionaire!
This is equivalent to investors building a skyscraper with a "concept".Although this skyscraper is very tall, beautiful and majestic, the foundation is made of sand, and it cannot withstand any shaking at all.As soon as there is a slight shake in the market, the edifice will immediately collapse.However, investors who have been blinded by the popularity of the Internet market do not see this danger at all, or they see it, but they are subconsciously unwilling to believe that it is true.So, on the day of March 13, 2000, an inadvertent "coincidence" caused a tremor, and then this tremor, driven by some other inadvertent vibrations, finally evolved into a powerful seismic wave that was enough to overturn the building in a very short period of time, and finally collapsed this beautiful edifice in an instant!
On March 10, 2000, the last trading day of the second week after the U.S. stock market entered March, on this day, the Nasdaq index was still very hot, and the Nasdaq even touched a high of 513252 points during the session, although it finally closed at 504862 point, but many investors are still optimistic about the Nasdaq.Then, after a two-day break on Saturday and Sunday, the Nasdaq opened as usual on the morning of March 13, but on this very day, the shares of Cisco, Oracle, Microsoft, Yahoo, Dell and other companies in the high-tech Hu led to a lot of selling.Of course, this sudden selling order is likely to be a profit-taking sell-off by some investors, but it happened to be all in one piece, so on this day, the Nasdaq fell by an incredible 259 points, a drop of more than 4.At the same time, many Internet companies have released last year's annual reports, and these annual reports reflect an unavoidable failure, that is, during the Christmas period of 1999, many Internet companies did not meet the expected figures.The annual report and the sudden sell-off immediately set off a chain reaction.In fact, the Internet market has developed to the present, and many institutions have seen the dangers.Then, this inadvertent shock immediately caused many investment institutions and various funds to begin to liquidate one after another, which led to an avalanche-like collapse.In just six days, the Nasdaq plummeted by 900 points!
The bursting of the bubble in the Internet market has been irrepressibly exploded!
In the end, the collapse lasted for 31 months, from March 2000 to October 2002, and the Nasdaq fell from a high of 5,132 points to 1,108 points!
In two and a half years, the Nasdaq has lost 80% of its value!
In the past two years, the entire Internet market has been like the song "Bubble" sung by Deng Ziqi - all bubbles.Therefore, Yang Jing is back, and he wants to sit here and fire the first shot of the KY investment fund to attack the Internet bubble!