Friday, 19 April 2013

What Happened (Dot Com Boom and Bust)

What Happened? This documentary with the name "What Happened" sets out to show you what happened during the dot com boom of the late 1990s. The documentary was created by Chas Mastin, Michael Lefort, Aldo Bello and a cast of characters in 2001-02. The documentary features interviews with such dot com luminaries as Mark Cuban. Find out what happened from those on the frontlines of the dot com boom. The documentary goes into how Internet entrepreneurs were paid obscene amounts of money for ideas and websites which made no money or didn't even have a hope of making money. Indeed the documentary claims over $20 billion of venture capital was poured into internet companies (the same amount spent on developing the nuclear bomb, and sending a man to space). Of course the investment banks played a major role in the mania - they provided capital, encouraged people to IPO in order to collect the big fees, and hyped up the valuations and prospects to a crowd of investors who were looking for hype. As interesting as this documentary is by itself, it's also an interesting example of a market mania - there will be future market manias so it is worth studying them and learning how to recognise and advantage from them.

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