I use the Internet everyday, but I have never thought about the history of dot.com.
In the class, professor Andrew Fry talked about five stages of dot.com history. In the beginning, in the early 1990s, The World Wide Web is invented and the Internet was widespread. People got interested in the new technology area. The invention of new technology brought a dot.com boom. Many people were interested in launching a business using the internet. In that time, in the middle of 1990s, many dot.com startup companies were spring up like mushrooms with just an idea, not good business model. During the next couple of years, the dot.com market was insanity. In the late 1990s, the dot.com companies expanded their companies with venture capital funding. Some of the company’s founder became a billionair through the initial public offering (IPO). Some dot.com companies acquired other dot.com companies. However, the dot.com bubble didn’t last long. In the early 2000s, the stock market made down turn and a lot of dot.com company went bust or bankrupt because of the lack of the business plan and financial plan. After passing the dot.com bust stage about two years, only few e-commerce companies survived, the job market started to rebound, and the venture capital was also rebounded. In the middle of 2000s, Web 2.0 brought the second dot.com boom around Silicon Valley.
Through this lecture, I learned how important the business plan and financial plan is. The product and service of my business ides is also the Internet based company. Starting a business with just a great idea doesn’t mean that business will bring a success. If I don’t organize my business structure and don’t prepare financial plan, the company could be bust out such as the dot.com companies busted out in 1900s.