![]() Chinese e-tailer Alibaba had a history-making IPO last fall. The shadow of 2000 dotcom bubble burst looms especially large now, as the economy is in another era of huge growth in the tech sector. At the 2001 Super Bowl, just one year after that bonanza, only three dotcom companies ran ads during the game. ( was one.) Magazines, including TIME, started running stories advising investors on how to limit their exposure to the tech sector, sensing that people were going to start taking a beating if their portfolios were too tied to e-tailers and other companies that were dropping like flies.ĭuring the 2000 Super Bowl, 17 dotcom companies had paid $44 million for ad spots, according to a Bloomberg article from the following year. One JP Morgan analyst told TIME in April of 2000 that a lot of companies were losing between $10 and $30 million a quarter - a rate that is obviously unsustainable, and was going to end with a lot of dead sites and lost investments.Ĭompanies started folding. In less than a month, nearly a trillion dollars worth of stock value had completely evaporated. By March 30, the NASDAQ was valued at $6.02 trillion. On March 10, the combined values of stocks on the NASDAQ was at $6.71 trillion the crash began March 11. In March of 2000, everything started to change.
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