Word: dotcomism
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...looks far worse for Toronto-based Nortel Networks, a key supplier to North American telcos and once the brightest light in the Canadian economy. It was worth $250 billion, or about 35% of the total market capitalization of the Toronto Stock Exchange, before it flamed out in the post-dotcom bust. Earlier this year, Nortel, a company with $10.4 billion in annual revenues that has spent nearly a decade mired in accounting scandals and feckless attempts to reinvent itself, initiated bankruptcy proceedings. It will probably sell its most prized assets to chief rivals, including Nokia Siemens Networks and Avaya...
...days, start-ups tended to get funded before they launched. Think of the dotcom archetype, Amazon. Only after getting a $300,000 check from his parents did Jeff Bezos set to work building his site. That was typical: entrepreneurs first put their energy into writing business plans - a map that spelled out what they hoped to build. After the money was in hand, they got to work...
...company as their ownership got diluted each time they brought in a new round of investment. The second was that there's often no correlation between the assumptions in a theoretical business plan and reality. Many great business plans turned into lousy start-ups - one reason for the last dotcom crash...
When Twitter launched in 2006, it was like a relic from the Jurassic period of the dotcom start-ups, when you could get funding for anything. Could a service that seemed to be designed specifically to provide its users with incessant interruptions, empty of almost any meaning or importance, really succeed? (Read "Facebook: 25 Things I Didn't Want to Know About...
...Tuition costs could also explain why graduate schools, traditionally a refuge in tough economic times, have seen uneven application numbers this year. Lance Choy, director of the career development center at Stanford, notes that grad schools were a popular backup a few years ago during the dotcom bust, but applications are flat this year. "Who needs more debt when the job market is looking rather grim?" he says. (Read "Finding a Dream Job: A Little Chaos Theory Helps...