Talking Points
What is today called the Internet bubble was actually an amalgam of four consecutive bubbles, creating an enormous rise and fall in the value of stocks. The bubble was fueled by a global revolution in technology and by the notion that the Internet would profoundly change the way we do business. The bubble intensified as key players, such as investment banks and venture capital firms, changed their own rules to take advantage of the public excitement. This was not the first bubble in history, but it's the largest we have seen so far.
The bubble was supposed to be part of a process by which the capital markets provided funding to emerging companies so that they could advance their business prospects. The outcome was quite different. ...
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