The Dot-Com Bubble Peaks
In March 2000, the NASDAQ reaches a height that makes no sense. Pets.com has a Super Bowl ad. Webvan raised $375 million to deliver groceries. A company called TheGlobe.com IPO'd at $87 and hit $97 on day one β then never stopped falling. Nobody knew it yet, but the peak had just happened. The bubble didn't pop all at once β it deflated slowly, painfully, over the next two years. Hundreds of billions in market value evaporated. The phrase 'get rich quick' became 'get rich, lose everything.'
Marked the end of irrational exuberance in tech. Destroyed the myth that any internet company could succeed. Forced Silicon Valley to learn about actual business models.