Skyline_BNR34 wrote:
What happened to them then XC?
The .com bubble blew up, and hard.
Back then, all you had to do was come up with a compelling business idea, and you'd find a shitton of venture capital to do it. It didn't matter as much to have a PROFITABLE business plan, you just had to have a cool idea.
VC would pour in, companies would start up, have an IPO, and see their stock prices skyrocket. Most had no chance of ever making a profit, and didn't put much thought into long term sustainability.
Over time, the VC's wanted some return on their investments. Interest rates were going up, and money was no longer cheap to borrow. It became harder for these startups to get new cash, and they started dropping. Cash was now something to be valued instead of spent freely.
For the companies that survived, a lot of these perks went away. It just didn't make business sense to spend all that cash on all the extra stuff.