Word: dotcom
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Dates: during 2000-2009
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...every revolution there comes that bitter moment when the flag-waving has to stop, the grand social theories have to adapt to reality, and a large number of the revolutionaries inevitably find themselves hauled off to the guillotine. The dotcom revolution is no different, except that, true to form, it has accelerated the process. The time it takes to go from hero on the barricades to zero with your head in a basket has shrunk to a nanosecond...
When his contract runs out in a month, Thorsen will hardly be the only dotcom refugee standing in line. Nor will he be the only one cursing his valueless options. This has always been a highly volatile industry, but recent events have been on the scale of a virtual earthquake. Here's a sample of the casualty list for just two days last week: More than a third of Seattle-based Hardware.com's workers went under the hammer. Furniture.com in Framingham, Mass., laid off 80 employees--that's 41% of its work force. Streaming video site Pseudo.com axed 58 jobs...
...that they were dinosaurs who didn't get it. And when he launched the My.MP3.com service that allowed users to copy their CDs into his online folders and listen to them from anywhere they chose, those dinosaurs won a copyright-infringement court case that threatened to take the upstart dotcom for every penny...
Washington and Wall Street are bedeviled by a specter--the specter of dotcom start-ups and the rise of the nerd class. The fantastic wealth of the new economy and the renegade attitude of its Netizens are deeply upsetting to the old order. The result is a cultural battle illustrated most dramatically by the Microsoft case. Surprisingly, the outcome of this conflict has a lot to say about whether we will still turn pages as we read...
...cypherpunks, like the hippies, love to tilt against windmills. Their most glamorous imaginary weapon is not free speech or free software or even free music. It is free money, anonymous electronic cash and untraceable digital funds, free of all government oversight and laundered over the Internet. Dotcom stocks have turned out to be surprisingly close to this utopian vision. They are rather destabilizing...