Anybody wants to guess? Was it Yahoo, wasting 6 billions on broadcast.com? Was it pets.com going out of business shortly after buying SB ads? Well, wonder no more: https://cryptotips.eu/en/news/micro...ng-dotcom-bubble-could-history-repeat-itself/ "Another person who would rather forget about history seems to be MicroStrategy’s CEO Michael Saylor (who just last week invested a second billion dollars of his company directly into Bitcoin). In 2001, Fortune Magazine published a list of the top losers of the Tech Bubble. Ranked #1 was none other than Michael Saylor, who had a whopping $13.53 Billion LOSS! MicroStrategy’s shares went from $3300 to $4 (-99.99% decline), and SEC even accused him of fraud. We’ve looked it up, and even Newsweek features a story on the man called confessions of a crash from back in 2001. To his credit, Saylor was 35 and has probably learned a lot in the past two decades." https://www.newsweek.com/confessions-crash-153687 "When he was on the way up, Saylor had boasted about reading Machiavelli and ancient history (in his bookshelf, alongside Letitia Baldrige's "Complete Guide to Executive Manners," is a thick volume on the Romans). Did he have any premonition that he was guilty of hubris? No, he says." History repeats...
There are so many, Sun Micro, Netscape, AOL, Nokia, 3Com/Palm etc. PSI net disappear as I recall. I'm sure a lot of the new IPOs pushed out over the past year and most of the SPARC will down rather quickly. A lot of frauds. SEC is sleeping. Free market? Sure, let the cheater roam free.
Don't think Nokia is an example of the .com bust, even though of course it got hit hard. Its decline was more due to a company structure that failed to acknowledge and challenge (or adopt) the iPhone and Android. They also made a very weird (desperate?) decision of going all in on Microsoft's phone OS. All of this after 2001.
It is amazing that most of the network equipment makers who make all the hardware to power the internet. Cisco, Sun Micro, 3Com and quite a few others. Most became irrelevant now.
LOL he once had a 13.53 billion dollar PAPER loss - while now his company has a 5 billion dollar paper gain YOY. While redditMan recycles aluminum cans and decides where next to target his outrage and indignation.
Even though we fundamentally disagree about cryptos, I do appreciate these random stories from an alternative perspective that challenge my bias.
Its clear to me what will bring the next crash. Companies investing/buying cryptos. At some point enough companies will be exposed that when the big dump by large players occurs that those companies will implode and infect entire industries.
Better stock up now on freeze-dried foods to fill up your bunker cupboard - before the local tinfoilhat-r-us supplyhouse switches to accepting ummm DogeCoin.