People would buy into the stupidest companies simply because they had a "dot com" and they had no idea what they were even buying. The same is happening with shitcoins just because they use buzzwords like "blockchain" and such. I expect only bitcoin (and maybe a few others) to survive just as Google and Amazon survived since they actually had a function.
From https://en.wikipedia.org/wiki/Dot-com_bubble :
"As a result of these factors, many investors were eager to invest, at any valuation, in any dot-com company, especially if it had one of the Internet-related prefixes or a ".com" suffix in its name. Venture capital was easy to raise. Investment banks, which profited significantly from initial public offerings (IPO), fueled speculation and encouraged investment in technology.[12] "
"Most dot-com companies incurred net operating losses as they spent heavily on advertising and promotions to harness network effects to build market share or mind share as fast as possible, using the mottos "get big fast" and "get large or get lost". These companies offered their services or products for free or at a discount with the expectation that they could build enough brand awareness to charge profitable rates for their services in the future.[19][20] "
The similarities are staggering.
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