Technology Investing
Written by our CEO & CIO, Bruce Murray, CFA.
Today vs. dot-com & Y2K
Thirty years ago, we were witnessing the adaptation of the internet in the early stages of acceptance as a tool to enhance work and leisure. This led to a plethora of ideas as to what this new technology could do! All it took was an idea and the ability to code and you too could change the way the world worked. By the year 2000, we were at the peak of the dot-com bubble. Like a horse race, Yahoo, based upon “search” software developed in Waterloo by OpenText, surged to the lead, only to be overtaken by a better idea, Google. For a while, @AOL.com was the hottest email host to have, but it then crashed and burned as internet service providers offered complementary addresses as part of their service. Everything was moving online, and providers were going public. By the spring of 2000, it became clear that many of these ideas were not commercial and even the good ones were overvalued. Shareholder enthusiasm quickly plunged into despair. Read