The Not-Com Bubble Is Popping
The unicorn massacre unfolding today is exactly the opposite of what happened in 2000.
It is easy to look at today’s crop of sinking IPOs—like Uber, Lyft, and Peloton—or scuttled public offerings, like WeWork, and see an eerie resemblance to the dot-com bubble that popped in 2000.
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Both then and now, consumer-tech companies spent lavishly on advertising and struggled to find a path to profit.
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Both then and now, companies that bragged about their ability to change the world admitted suddenly that they were running out of money.
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Both then and now, the valuations of once-heralded tech enterprises were halved in a matter of weeks.
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Both and , there
