WEBVTT 00:00:00.359 --> 00:00:03.439 the dotom bubble started around 1997 00:00:03.439 --> 00:00:06.640 peaked in 2000 and ultimately bursted by 00:00:06.640 --> 00:00:09.440 2002 as the name suggests the bubble 00:00:09.440 --> 00:00:11.400 revolved around speculative investments 00:00:11.400 --> 00:00:14.240 in internet companies simply put 00:00:14.240 --> 00:00:16.000 investors were so excited about the 00:00:16.000 --> 00:00:17.520 progress of the internet that they 00:00:17.520 --> 00:00:19.800 invested in pretty much any tech company 00:00:19.800 --> 00:00:22.080 with a pulse they stopped caring about 00:00:22.080 --> 00:00:24.000 whether or not a company was profitable 00:00:24.000 --> 00:00:25.599 or at least could eventually become 00:00:25.599 --> 00:00:28.679 profitable Common Sense became a Rarity 00:00:28.679 --> 00:00:32.119 from 1997 to March 2000 prices went up 00:00:32.119 --> 00:00:34.760 about five times only to go down five 00:00:34.760 --> 00:00:36.520 times and return to their pre-boom 00:00:36.520 --> 00:00:40.079 levels from 2000 to 2002 a drop which 00:00:40.079 --> 00:00:42.079 was also exacerbated by the terrorist 00:00:42.079 --> 00:00:45.719 attacks of September 11th 2001 only one 00:00:45.719 --> 00:00:48.000 out of two internet companies survived 00:00:48.000 --> 00:00:50.520 with businesses such as pets.com going 00:00:50.520 --> 00:00:52.359 from a market capitalization of over 00:00:52.359 --> 00:00:57.680 $300 million to zero within just 268 00:00:57.680 --> 00:01:00.519 days there are however also success 00:01:00.519 --> 00:01:02.480 stories such as Amazon which went from 00:01:02.480 --> 00:01:04.959 around $100 during the bubble Peak all 00:01:04.959 --> 00:01:07.520 the way down to $7 after it burst but 00:01:07.520 --> 00:01:10.200 then climbed back up to over $600 per 00:01:10.200 --> 00:01:13.240 share the conclusion is simple like any 00:01:13.240 --> 00:01:15.759 other Mania theom bubble is a 00:01:15.759 --> 00:01:19.880 fascinating human nature lesson