2000: market peaks out.IT started with a slight tremor. "Extravagant parties are common in Hollywood and the music industry, but those events have one important difference from the spate of high-end hoedowns being sponsored by today's dot-coms: the hosts, for the most part, are profitable, well-established business," the Business Journal reported in April 2000. "For those witnessing the violent Nasdaq swings last week, triggered by a court ruling against Microsoft Corp., such parties are prompting some serious questions--like when are these companies going to stop spending money and start earning it?" The question would be answered quickly, as the tremor unleashed a tidal wave tidal wave, term properly applied to the crest of a tide as it moves around the earth. The wavelike upstream rush of water caused by the incoming tide in some locations is known as a tidal bore. over the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. . "Dramamine, anyone?" the Business Journal asked two weeks later. "With the Nasdaq on a bumpy ride across the financial landscape, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. investors were a little woozy from trying to keep up with the volatile market. Some were clearly panicked. At an upscale Vogue cocktail party honoring Donna Karan Donna Karan is the fashion designer and the creator of the DKNY (Donna Karan New York) clothing label. She was born Donna Ivy Faske on October 9, 1948 in Forest Hills, New York. fashions, actor James Woods was almost oblivious to the willowy wil·low·y adj. wil·low·i·er, wil·low·i·est 1. Planted with or abounding in willows. 2. Resembling a willow tree, especially: a. Flexible; pliant. b. Tall, slender, and graceful. models and actresses surrounding him. 'I lost $1 million yesterday! Yesterday!' he shouted." When the floodwaters receded, the wreckage was shocking--if not surprising, in hindsight. The poster child for L.A. information superhighway roadkill road·kill n. 1. An animal or animals killed by being struck by a motor vehicle. 2. Slang One that has failed or been defeated and is no longer worthy of consideration: was eToys; its stock had traded in the mid-$80 range in October 1999, and was down to $6 six months later. The company no longer exists, done in by the market collapse. The Nasdaq, which briefly broke 5,000 in March 2000, stood slightly above 2,000 for the first two weeks of November. "Out of the Past" is published each week to celebrate the 25th anniversary of the Business Journal. |
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