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by william on August 7, 2005
Word is that we're in another dot-com boom. Hopefully after the dot-com burst, we'll see a little more common sense when it comes to spending investment money. CNET has the list of the top 10 dot-com flops which could probably list 100 more. CNET starts out by saying:
The most astounding thing about the dot-com boom was the obscene amount of money that was spent. Zealous venture capitalists fell over themselves to invest millions in Internet start-ups; dot-coms blew millions on spectacular marketing campaigns; new college graduates became instant millionaires (albeit on paper) and rushed out to spend it; and companies with unproven business models executed massive IPOs with sky-high stock prices. Of course, we all know what eventually happened to this world. Few of these companies actually made enough money to recoup that cash, and when their investors fled to the hills, these start-ups died dramatic deaths. These are the celebrity victims of the new-economy bust.
What's amazing is how these ten companies ate up almost $2.5 billion in about a 2 year period. The list has some well known busts like Pets.com and and MVP.com. Definitely an interesting read.
See the Top 10 dot-com flops at CNET.com
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