In the simplist possible terms... they shouldn't have gone public. Businesses which make a stead profit don't do well like that.
Stock need to grow in value... investor would rather make millions by selling a stock for twice what they bought it for... than make money collecting their percentage of profits... if a compay can't grow, it can't get bought or sold for much...
(incidentally... this is why MS needs the x-box to do well... it's the only market their in where they CAN grow... all their software markets from OS to Office can only fall...)
Basically... everyone realized that most of the dot coms weren't in a position to grow and the market fell out... the only ones who did well were the ones who invested in things like Amazon that are very much stil growing.
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timeasmymeasure
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Date: 2005-12-30 02:33 am (UTC)Stock need to grow in value... investor would rather make millions by selling a stock for twice what they bought it for... than make money collecting their percentage of profits... if a compay can't grow, it can't get bought or sold for much...
(incidentally... this is why MS needs the x-box to do well... it's the only market their in where they CAN grow... all their software markets from OS to Office can only fall...)
Basically... everyone realized that most of the dot coms weren't in a position to grow and the market fell out... the only ones who did well were the ones who invested in things like Amazon that are very much stil growing.