It seems like a good time to reflect back on the past. It is almost 10 years after the dot com bubble was at its peak and everyone seems to agree that we're in a recession.
What's the same and what's different? I was watching this 2 minute clip about IveBeenGood.com, a startup I worked on at Trilogy University in 1999.
What's the same? What's different?
The predictions were right. Most of those companies spending all that money went out of business.
Dan Rather is no longer on CBS.
In 1999, 48% of consumers in the US could not name an online company. Today, Google is officially the most valuable brand in the world, beating out General Electric, Coca-Cola and McDonalds.
In 1999, less than half of Internet users had made even one online purchase. Today, 85% of Internet users shop online and this number is still growing.
In 2000, the Internet was seen as the cause of the recession - overvalued and unprofitable. Today, the Internet promises efficiency and profit. With dark clouds hanging around the credit, housing, food and energy markets, the Internet could be our ray of sunlight over the next year as traditional, less efficient business models are replaced with more efficient ones and more and more spending moves online.
What lessons do you think we can learn from the last recession? What will be different this time around?
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