Word: dotcomism
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Though they couldn't be more different from former dotcom darlings like? Pets.com, clean-tech start-ups were hit hard by the vaporization of venture capital in the wake of the tech and Internet bust of 2000. Funding for green venture capital plunged over the next three years. But it wasn't just flashbacks to that meltdown that initially kept venture capitalists cool on clean tech. Starting up an Internet company required relatively low levels of capital - at least before you started buying your employees massage chairs - and dangled the possibility of a quick and lucrative payoff. Cracking the energy...
...made billions in the dotcom boom. What's the next great financial opportunity? -Penny Moore, Columbus, OhioIf I were capable of predicting that, I'd already be there. The one thing I know is that the next opportunity won't be on the Internet. It will be a technology that is somewhere else. Some 10-year-old little girl will come up with it, and we'll all wonder how we missed...
Today's Australians may be more sophisticated than last century's digger with his pockets full of gold dust, but at root the dotcom millionaires of the late 1990s are not so very different from their mining ancestors. The metaphor of all wealth production is gambling, and Australians are among the most shamefully obsessed gamblers in the world. We have 20 times as many "pokies"--poker machines--per person as Americans. Our styles of wealth production enforce the belief that superiority is luck and only luck: no moral lessons apply. The Puritan impulse toward social responsibility that created the American...
...still just "Monopoly money," notes Khan. With hardly any profits to date, the company's actual valuation is all just speculation at the moment. That should become much clearer, once Facebook goes public sometime in the next year or so. One thing's for sure, however: the dotcom bubble just got bigger than ever. Get ready for another wild ride...
...This is not to suggest that all emerging markets are attractive. There are major gas pockets in China stocks, which are trading on mainland bourses at levels reminiscent of the heady days of the dotcom bubble. Hong Kong's stock exchange, where many China companies are listed, is experiencing similar exuberance, having risen more than 40% since mid-August. Soaring markets like these are getting a lot of press. But don't make the mistake of assuming all emerging markets are overvalued just like they were 10 years ago, right before the last bubble popped. That would be like driving...