Dot Com

1 01 2006

The rise and fall of the dot-com industry in the late 1990’s revealed the power of the internet, the effects of hype seen throughout the 1990’s, and ultimately, the continued onset of globalization. The emergence of quick start-ups and the growth of the economy over the course of the decade developed my perception of the world; I came to understand that, using effective marketing venues that attract both impulse and diligent shoppers, earning money can be simple.

The lesson of the 1990’s was: don’t get lost in the hype. Between Furbies, Beanie Babies, Tickle Me Elmos, Pokemon, and Giga Pockets, I learned that the nineties were all about trends. Catching on very early to the Pokemon wave, I set up my first ecommerce venture at the age of eleven, selling cards online. The idea and timing were right, but the implementation was off – and the site was, in business terms, a failure. However, Kevtoys.com taught important lessons – communication, ease of use, and professional looks are key to sales. Furthermore, the site reflected the aftermath of hype – many, many leftover almost valueless cards.

The dot-com boom was the central hype of the late 90’s; its eventual bust, the same as which befell the preceding fads, caught the adult world off-guard. It was a sobering lesson. Though the world had so much to give, you have to be careful with what you take, monitoring exactly what you’re getting, whether they’re plastic playing cards, stuffed animals, or mini-gadgets. Staying in touch is important, but keeping a clear-headed perspective is invaluable. As the world progresses into a global marketplace, entrepreneurs must learn the lessons of the dot-com era: risk-management, diversify, and communicate.

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One response

4 01 2006
Matthias

I think it’s easy to cash in on hype. Just don’t stay in longer than three months, and you’ll be rewarded for being frugal. Get caught by greed, and your stock will come crashing around the fifth month.–>

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