Dot-Com Doom No More?
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Dotcomfailures.com and F#$&edCompany.com, a pair of irreverent Web sites devoted to documenting the growing list of dot-com failures, have both announced plans to pull the plug on operations. Ironic is the first adjective that springs to mind. But to be fair, both sites did a pretty crackerjack job at keeping tabs on the Internet boneyard. And, while the sites served as a brutal reminder of digital Darwinism, both were a surprisingly accurate reflection of the utter meltdown many spendthrift Web start-ups were going through.
So it should come as no surprise that the demise of the two Web sites that started the "kick 'em while they're down" genre likely serves as an equally accurate reflection of the improving sentiment for Internet upstarts. Whatever the reasons given by the respective Webmasters for either site, the real impetus behind the shutdowns is probably because the excitement from shoveling dirt on top of dot-com gravesites was starting to wear thin. Quite frankly, the frenetic pace of high profile failures just isn't what it once was during summer, and subsequently, the sites are starting to lose their sex appeal. And that should spell good news for bored investors.
No doubt, thousands of struggling companies and investors alike were completely blindsided by the meltdown in the public markets. But while most naysayers had predicted a violent bursting of the proverbial Internet bubble for quite some time, it turned out to resemble the slow, but raucous leak of a whoopie cushion. The result was an endless stream of parading dot-com flatulence, with layoffs and bankruptcies, each one more grandiose and high profile than the last. For the have-nots, it was a time to gloat; and for the haves, it was a time to privately gloat. For whatever reasons, the bearish sentiment that blanketed Wall Street and Main Street suffocated cash-needy start-ups everywhere.
For those paying close attention, there are bullish signs pointing to an ongoing recovery in the Internet sector, starting with the online bellwethers. Early indications are, that the worst days are behind us, with rock-bottom having hit sometime between late July and early August. While still miles away from their frothiest 52-week highs, many graybeards of the industry are busy repairing much of the damage that caused their respective stock prices to plummet since mid-April.
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