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Ask HN: What company were you at when the dot-com bubble burst in mid 2000?

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11–20 of 41 posts

Re: Ask HN: What company were you at when the dot-com bubble burst in mid 2000?

#12
I was working at a tiny company (at times just me and the president/owner) providing shopping cart SaaS. Initially I quit 'cause I was tired of working there but continued on as a contractor at higher pay for several months. I left completely when they stopped being able to pay me. I can't tell if they're still around but the company certainly hasn't lived up to its potential, they never made a serious investment in technology and have fallen hugely behind all of the competition.

My title was irrelevant due to the size of the company.

Short lessons? Probably to get out sooner rather than later when you recognize deep problems in a company.

I wish I knew how much my skills were worth back then and a better way to market them.

Re: Ask HN: What company were you at when the dot-com bubble burst in mid 2000?

#13
CTO at a domain registrar. Our company actually survived the pop and eventually was "sold" for other reasons. The main things I learned from that experience was that it is important to be conscious of competitor pricing and how it affects your market. It's ok to be more expensive than your competitors, but you have to differentiate to back that up. Being expensive just because you're ignoring the marketplace will end up causing trouble. Also, be frugal and focus (although I don't think I really learned this until after I failed numerous other times - sometimes I still wonder if I have learned the lesson).

Re: Ask HN: What company were you at when the dot-com bubble burst in mid 2000?

#15
I was working as a developer for a large outsourcing organisation (Capgemini) in Europe at that time. What I remember the most is the enormous amount of middle-management that was retrenched. Most people I knew in tech seem to have made it through the burst in one piece back then.

Re: Ask HN: What company were you at when the dot-com bubble burst in mid 2000?

#16
In 2003 I was just a few years out of college, working for ClickSitez Japan, K.K., a startup trying to convince VCs that people were going to do their photos on the interweb tubes. We had angel funding and a prototype/demo with one and only one error-free path through it (the "shining path", one of our advisors called it, and the name stuck). We on the engineering side divided our time between coding the prototype and helping the bizdev guys pitch it to anybody who'd listen: VCs, other dot-coms, even NTT.

My business card read VP/UX, which was supposed to mean "Vice President, User Experience". Like a lot of dot-com startups at the time, we had like 7 vice presidents of this or that, with only 2 staffers below VP level.

What I actually did know then, and simply wish I had factored into my decision-making processes more, was that the dot-com bubble was a bubble and that trying to play the stock game in a bubble isn't fundamentally different from playing blackjack. Bootstrapping is preferable to chasing investors, in retrospect.

Of course, everybody knew it was a bubble; the technology stock analyst I was dating at the time told me, "Yeah. It's a bubble, but it's still paying out. So there will still be money to be made here, until the day comes that it was a bubble."

It was March 2000 when that day came, as near as I can recall. We never got that next funding round, and as it started to become clear that the party was over, the three of us who could code went our separate ways, and the company was acquired by some short-lived web consulting company, which was in turn acquired by somebody else, and ultimately was bought by the posterboy of dot-com Internet flameouts, marchFIRST.

The most valuable lesson that has stuck with me is that none of these people--investors, analysts, "experts", bosses, underlings, dot-celebrities of the day--knew what the hell they were talking about.

I'm not saying that I did, mind you--nobody did. That's why these things are assigned descriptors like "revolutionary, disruptive technological paradigm shift". Because nobody knows what the hell all the effects are going to be.

Not many of the things such hyperbolic labels are applied to actually turn out to do all that much disrupting. But the dot-com revolution was different--it was a bona-fide Gutenberg-level event, and for all the billions of dollars that were bandied about and the huge transfers of wealth and the frenzied investment in it, that was really just a pretty minor part of the whole picture. The impact of the Internet becoming a mainstream part of modern human society goes much deeper than that.

And that's what made it fun to be living and breathing every day. Despite all the missed opportunities and inevitable what-ifs looking back, I'm glad I was there.

Re: Ask HN: What company were you at when the dot-com bubble burst in mid 2000?

#17
I was working for a IT recruiting company, managing a team that essentially was pulling down and parsing every resume from the job sites at that time - Monster.com, Dice.com, HotJobs, etc. Recruiters were on the phone every day to try and find guys who knew all the 'hot' tech at the time - Vignette was a really big ticket item, for example, with six-figure salaries and a high percent for recruiters.

It wasn't a 'boiler room' mentality--far from it--and we had plans to really grow, after creating our own database of resumes.

Of course, that ran out of steam when the bust came and there was only really one company which had the resume database market covered, and that was Monster. By that time, I had moved on to another company called ArsDigita. Hmm, out of the frying pan...

Re: Ask HN: What company were you at when the dot-com bubble burst in mid 2000?

#18
Motorola. "Remote Access Server/Software Deployment Engineer".

I learned that I never wanted to work for a big company again. It was a big ordeal to a manager's sized cubicle for me so I'd have the proper space to do my job (build and image servers).

The good things I learned were process/project management, UNIX in a production environment, and an appreciation for Sun workstations.

Re: Ask HN: What company were you at when the dot-com bubble burst in mid 2000?

#19
WebGain, a company that could not have existed without the bubble, though it staggered on through 2001. First wave of layoffs in November, the company died 5 months later.

Taught me to never value stock options more than common sense.

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