Word: dotcomism
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...world's largest semiconductor company, Paul Otellini has had a catbird-seat view of the remarkable social and business changes wrought by the information technology revolution. Now Intel's CEO, he has also witnessed some of the tech industry's biggest setbacks, such as the implosion of the dotcom bubble in 2000 that plunged the U.S. into recession. In an recent interview with TIME senior editor Jim Erickson, Otellini discussed some of the differences between the dotcom bust and the current global financial crisis - and whether technology's Next Big Thing can help lead the country out of its economic...
...hundreds of thousands of applications - LinkedIn's plan is to carefully and slowly vet everything that goes onto its platform. "We don't want zombies and werewolves and all that," said Reid Hoffman, the brilliant entrepreneur who founded LinkedIn in May 2003, during a particularly bleak part of the dotcom meltdown. He told me that if his social network offered 60 applications a year from now, "we'd be very happy. The focus is on quality, not quantity...
...Economic reality, in other words, is settling in across the nation. Every tumultuous period of financial boom and bust comes to be defined by a word or catchphrase. Tulipmania. The Great Depression. The dotcom bubble. The word that could define the financial times we are now living through - and the economic pain that has begun - is leverage...
Charles Ardai was born too late. He's a dotcom success story--founder and CEO of Juno--but his first love was pulp fiction: those seamy, seedy, hard-boiled paperbacks from the 1940s and '50s, the kind with a hot broad and a cold, stiff drink on the cover. Ardai, 36, missed the great age of pulp, so after Juno merged with a competitor in 2001 and he had time and money to burn, he founded his own press, Hard Case Crime. Now he makes 'em like they used...
...engine is sputtering. Population growth is at a 30-year low. School enrollment is declining. Retirees are drifting to the Southwest and the Carolinas, while would-be Floridians who bought preconstruction condos in more optimistic times are scrambling - and often suing - to break contracts. This is our dotcom bust, except worse, because our local governments are utterly dependent on construction for tax revenues, so they're slashing school and public-transportation budgets that were already among the nation's stingiest. "This may be our tipping point," says former Senator Bob Graham...