Word: nasdaq
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Dates: during 2000-2009
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...Decline of the NASDAQ Composite Index at 1:18 p.m. on April...
...hypnotized at my computer, watching the NASDAQ collapse, when e-mail pops up reminding me of our biweekly company meeting. Eighty or so Keen.com employees gather around our CEO, Karl Jacob. "Well," he says, "we all know what happened in the market today...
Yeah. The world ended. The fact that the NASDAQ may have hit a new high by the time you read these words doesn't erase the vague sense in dotcomland that the party, if not quite over, is definitely winding down. It's behemoths like Cisco and Intel that are keeping the NASDAQ afloat. The Web bubble is bursting. Has burst. Which means that some of us now roaring toward online glory may instead face that Wile E. Coyote moment when you look down and realize you just sprinted off a cliff...
...does the market really matter? Karl has one message--Suck it up--and two themes. Theme No. 1: Everything Is Different. The NASDAQ's woes don't affect us directly--we don't have a steady supply of paper clips yet, let alone public stock--but our industry's free ride is clearly over. The men are about to be separated from the boys, the wheat from the chaff, the Yahoos from the yahoos. And--oh, my, Greenspan--we can't go public at the drop of a business plan anymore. "It's going to be much harder under these...
...take solace in, of all things, the long view. Forget the NASDAQ and going public, Karl says. Last year's IPO darling is this year's sinkhole. What matters is our 2003 bottom line, and that means--sing along, kids--building a great business by continually improving our products and better serving our customers' needs...