https://upload.wikimedia.org/wikipedia/commons/thumb/f/f3/NA...
If you look at nasdaq around the dotcom crash it also had a fake bounce before the real crash. Past doesn't predict the future but also no reason we couldn't be in a fake bounce now.
If you look at nasdaq around the dotcom crash it also had a fake bounce before the real crash. Past doesn't predict the future but also no reason we couldn't be in a fake bounce now.
> The size of any market correction is not something I'm qualified to comment on
The person above me said that it might still get much worse, basing that on a rather different situation. All I said is that I would not use this specific reference data for setting future expectations in the current situation
AI is having an impact in the markets, there is not question that ChatGPT inaugurates a new milestone even if at the end that AI is not so smart, it is very useful.
IMHO we, humans, are the bottleneck and slowing things down: matching a buyer with a seller is slow, it requires building trust and depends on culture. If you remove humans from some activities the economy will accelerate. That does not mean that the human race will be better as a whole but the money spped will rise and money will flow in the direction of removing humans when they could be replaced.
Then you have the true superstars of money burning, like the startups that distribute VC money to customers (e.g. Uber, but there's a ton more).
How?
Compared to today, no one was on the internet. Look up internet subscriber numbers from then.
There was no wifi.
There was no mobile data.
People were barely moving from dialup to high speed.
Cable modem was new. Adsl had just come out and was slow. Internet was not stable to be up and trusted all the time.
Businesses were not trusting their operations to SaaS.
E-commerce was tough, people didn’t trust credit cards online, and credit card processing was much harder to setup than today. There was nothing close to being as simple as Stripe. PayPal was it.
There were no huge social media networks, except for forums.
There was little to no advertising online, let alone advertising networks like today.
Discovery was an infant (Google was new), addressing markets was basic (little adtech).