Word: dotcom
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Dates: during 2000-2009
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...tech lucre on cash-strapped creative-writing programs across the land. "We need to support the soul as well as the mind," he croons from a two-man consulting firm in Menlo Park, Calif. What Desai actually delivers, however, is a parable about the perils of falling for a dotcom dreamer...
...instant jillionaires of the tech-stock IPO boom, pledging lavish gifts to charities and universities was a way of parading both their compassion and their clout. But with the tech bubble gone poof, many of those same promises are worth about as much as dotcom-stock shares. Cancel that new dorm...
Stanford's disappointment is shared by outfits like the Austin Entrepreneurs Foundation, which was formed at the height of the dotcom frenzy to fund Texas community groups. But of the 120 Internet and software companies that contribute their stock options, at least a dozen have closed their doors. Others have delayed making good on earlier commitments. As a result, the Texas foundation, which had expected to give away as much as $500,000 in grants, has been forced to disburse less than a third of that, or $150,000. Says director Paula Fracasso: "I read the paper every...
...area south of Market Street, where funkiness has given way to flash, symbolized by the brand-new baseball stadium and the dozens of upscale eateries, hotels and condominiums that surround it. The changes are even more nakedly apparent in the Mission District, ground zero in the war between entrepreneurs--dotcom and otherwise--and the artists, community activists and working people, many of them Latinos, who have lived there for decades. Increasingly, standard-issue low riders and banged-up Toyotas are being edged out by Volvos and SUVs. Over on Mission Street, Foreign Cinema, a limo-flanked, chichi restaurant that opened...
They may have lost millions of dollars for investors and helped foment the market downturn, but dotcom dropouts are in demand on the speakers' circuit. The phones are ringing for executives from Internet losers such as Yahoo and Priceline.com--if they dump their success stories and share their woes. "In the past we didn't bring up failure. Now we make it a highlight of speeches," says Michelle Lemmons-Poscente, head of the International Speakers Bureau, based in Dallas. "The best way to learn is by someone else's failures, and if there's drama involved, all the better...