Word: dotcomers
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Dates: during 2000-2009
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...baseball cap, corporate CEO Darien Dash is preaching the gospel of the Web to a crowd of teens at the Alexander Hamilton housing projects in Paterson, N.J. Knowing that for many of these kids the closest model of financial success is the local drug dealer, this 29-year-old dotcom entrepreneur speaks to them in language he knows they understand. "The new hustle," declares Dash, "is technology...
...past six years, Dash's life has been all hustle--a constant struggle to make it in the New Economy. Last year he became the first African American to take a dotcom public. The mission of his DME Interactive Holdings Inc., based in New York City, is to help urban youth join the technology revolution by providing them with hardware at a cost they can afford--and make some money for himself and his investors in the process...
What Dash has discovered is that this bumpy path to dotcom success is littered with many of the same obstacles faced by African Americans in the traditional corporate world. Only in this case, he faced a new-boy network, made up mostly of white, middle-class male computer engineers mixing comfortably with M.B.A.s--guys who often knew one another as undergraduates. "Back in 1997, it wasn't cool to be a black dotcom," says Patrick McElroy, president of Atlanta-based EverythingBlack.com a virtual meeting ground for more than 600 African American-owned websites. Dwayne Walker, 39, a veteran of Microsoft...
...Witter, notes that spending on telecom equipment will be down in 2001, after rising steadily for years. A number of big carriers have already disappointed Wall Street with weak sales of their goods and services. Spending on PCs and by cable systems is falling too, Biggs says. Meanwhile, recent dotcom failures and near failures, from Pets.com to Drkoop.com highlight that industry's capital crunch, which will take a big bite out of revenues at suppliers such as Sun and Oracle; the latter's stock is down more than 40% in three months...
...mainstream. Cities like Hyderabad, Bombay and New Delhi are promising telecom links and tax holidays to prospective business investors. "India always had the talent, but with the Internet, we've found the delivery mechanism to transport this talent around the globe," says Prakash Gurbaxani, who set up his own dotcom consultancy, 24/7 Customer.com five months ago in Bangalore...