this post was submitted on 13 Aug 2023
1092 points (96.1% liked)
Technology
60082 readers
3879 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I'd like some samples of that. A company attempting something transformative back then that may or may not work that didn't work. I was working for a company that hooked 'promising' companies up with investors, no shit, that was our whole business plan, we redress your site in flash, put some video/sound effects in, and help sell you to someone with money looking to buy into the next google . Everything that was 'throwing things at the wall to see what sticks' was a thinly veiled grift for VC. Almost no one was doing anything transformative. The few things that made it (ebay, google, amazon) were using engineers to solve actual problems. Online shopping, Online Auction, Natural language search. These are the same kinds of companies that continue to spring into existence after the crash.
It's the whole point of the bubble. It was a bubble because most of the money was going into pockets not making anything. People were investing in companies that didn't have a viable product and had no intention south of getting bought by a big dog and making a quick buck. There weren't all of a sudden this flood of inventors making new and wonderful things unless you count new and amazing marketing cons.