> Did people expect the dotcom bubble?
Greenspan called it "Irrational Exuberance" in 1996 [1], although I personally don't remember it being that bad then.
By 1999, the word "bubble" was all over the media.
Greenspan called it "Irrational Exuberance" in 1996 [1], although I personally don't remember it being that bad then.
By 1999, the word "bubble" was all over the media.
I specifically remember hearing him address the question (it might have been rhetorical or from the audience) as to how this was sustainable given that most of companies involved didn't actually earn any profits.
Most of the overvalued companies involved during the bubble was consultancy companies making web pages for other companies.
I still remember being somewhat stunned by the answer he gave. He explained that that was not an issue since the new economy worked differently compared to the old one.
At that point I shook my head, focused my attention back on the servers and came to the conclusion that the bubble would burst sooner than later.