THE WORLDWIDE WEB AND INTERNET BUBBLE
August 1, 2012
Entrepreneurs of the late 1990’s had an unrealistic expectation concerning the success of the internet, much of which was influenced by companies such as Amazon, eBay and many others during this period. The entrepreneurs of this period included individual dreamers to that of major corporations, Internet entrepreneurs who was enamored with dreams of becoming “dot-com millionaires or billionaires (Smith, 2012), but such expectations led to the “Dot-Com Bubble” or what is known as the Internet Bubble”. In Robert J Shiller’s book, Irrational Exuberance, the study of many factors which influenced the boom, skyrocketing after 1995 is discussed and I will like to discussed in this paper three of these factors (Internet Culture; Effect of the News Media and A New Era of Economic thinking); the influence of the World Wide Web (www) on the bubble and companies that both gain and lost as a result of the internet’s bubble burst.
The Internet’s Journey
The introduction of the World Wide Web gained a lot of attention in its innovative change which expanded technology and enhanced an already existing internet. E-Commerce Entrepreneurs both old and new took advantage of this new dotcom frenzy and as the companies went public, a number of investors made risky decisions based solely on the hype of the dotcom. Though several companies benefited from this frenzy, others failed because they failed to plan. There was no strategy. Robert Shiller defined many factors that influenced this dotcom boom.
Culture, media and economic thinking are three of many factors discussed in Robert Shiller’s Irrational Exuberance and each had its influenced on the Dotcom or Internet Bubble. A culture as defined, consist of the beliefs, behaviors, objects and other characteristics common to the member of a particular group or society through which individuals define themselves, conform to a shared value and...