Word: dotcomers
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...dotcom world has gone to work for K Mart? It certainly looks that way. Refugees from Pets.com Eve.com Productopia, PlanetRX and just about every other recent flameout have landed here. Last Christmas, Bluelight.com (60% owned by K Mart; other investors include Martha Stewart) was an industry joke. Now it boasts an inventory of 30,000-plus items, more than 1 million unique visitors monthly and a massive, last-minute rollout of 3,600 Internet kiosks in 1,200 K Marts across America. CEO Mark Goldstein is blithely turning away job applicants--unheard of in employee-hungry Silicon Valley--and even...
...before a single retail site burst online, America had too many retail stores. By 2000, it also had too many e-tail stores. Result: shuttered sites, struggling shops and shredded profits across the sector. Poor performance by such companies as the Gap, Nordstrom and J.C. Penney added to the dotcom carnage in the stock market. And new worries that consumer spending is slowing, presaging a recession, have made this Christmas the most critical in years...
...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...