this post was submitted on 15 Sep 2025
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consider the Dot Com Bubble: the internet obviously didn't disappear but that doesn't mean there weren't serious economic consequences.
ELI5. Because I was actually 5 when that happened.
The dot-com bubble? A whole bunch of investment money was poured into businesses operating over the Internet from around the time dial-up became widely available. A few years later, investors realized that "on the Internet" wasn't necessarily the key to making a crapton of money and the stock market crashed. A bunch of companies (many of which never made it to profitability) went under, and a fair number of people lost their jobs. Pets.com was one of the more notable victims.
This doesn't, however, mean that no business is done over the Internet today.