In the wake of the attacks, America’s attention has shifted from the secondary human concerns that dominated during the 1990s boom (saving for old age, getting rich) to the primary matters of human survival (staying safe, providing a livelihood for one’s family). military and economic invulnerability, which grew stronger by the year during the 1990s, until it was taken for granted by many, has been violently undermined. It is too early to judge the ultimate historic significance of the terrorist attacks that were carried out on the World Trade Center and the Pentagon on September 11, 2001, but one thing is clear: they changed America’s view of itself. Suddenly the Cold War, with its attendant undercurrent of fear, feels a lot closer, while the carefree 1990s seem like a distant age. Bush has declared war on terrorism, and American warplanes are heading for Central Asia. As these words are being written, President George W. One of the strange things about history is how certain periods from long ago can seem recent, while some events that just happened, relatively speaking, can appear ancient. “Ever get the feeling you’ve been cheated?” -Johnny Rotten This book is dedicated to my parents, John and Julie Cassidy.Ĭhapter 1 chapter 2 chapter 3 chapter 4 chapter 5 chapter 6 chapter 7 chapter 8 chapter 9 chapter 10 chapter 11 chapter 12 chapter 13 chapter 14 chapter 15 chapter 16 chapter 17 chapter 18 chapter 19 chapter 20 chapter 21Īcknowledgements epigraph prologue 1 from memex to world wide web 9 popular capitalism 25 information superhighway 37 netscape 51 the stock market 66 ipo 76 yahoo! 89 battle for the ’net 104 irrational exuberance 118 135 the new economy 150 a media bubble 166 greenspan’s green light 182 euphoria 191 queen of the ’net 206 trading nation 221 web dreams 235 warning signs 249 the fed strikes 264 crash 279 dead dotcoms 295 epilogue 313 notes 327 appendix 347Ībout the author credits about the publisher front cover image copyright Whenever practical, I have tried to indicate the relevant sources. The material in this book is drawn from a combination of firsthand reporting, government economic statistics, SEC filings, corporate press releases, contemporary newspaper and magazine stories, research reports, academic periodicals, and books. Thanks also to: Katherine Zoepf, for checking facts and compiling the footnotes Greg Kyle, at Pegasus Research, for compiling the figures in the appendix Alice Rose, for inspiring the title. At the Wylie Agency: Andrew Wylie and Jeffrey Posternak. At The New Yorker: David Remnick, Dorothy Wickenden, Pam McCarthy, Henry Finder, John Bennet, and, especially, Cressida Leyshon. At HarperCollins: David Hirshey, Jeff Kellogg, Cathy Hemming, Adrian Zackheim, Cindy Achar. I would like to thank everybody who helped me to write Dot.con.
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