While I agree with what you have said the tech bubble was not due to y2k. y2k money was spend on hardware and software upgrades that were for the most part necessary. The tech bubble was due to people investing huge sums of money in internet business startups. Many of the companies had high stock prices and run away IPO's but no tangible assets. When it came down to it the companies failed and had no assets other that a few servers with web pages on them. Money was essentialy dumped on people who had vaporware. I personaly knew one web company. I watched them hire talent and setup call centers for 30 people but six months later they had 4 people aswering phones if they rang, but still had all the top heavy employees (CEO,CIO,COO) and the like. After a year they were down to 3 people total moved into a backroom at the CEO's house and were running the whole shebang on a cable modem. I even heard him say he wished he had the 50 grand he spent on the marketing research for the companies domain name. They still exist today but I do not know who ownes them. The tech bubble was about investments into internet startups that ate the money with nothing to show for it. Very much the same as the housing bouble, prices kept going up for investments that were not worth near what the going price was.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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