OpenAI is a blast furnace fueled by investor cash. But Sam Altman is totally going to replace all your employees this time, honest — with agents: [OpenAI] We are now confident we know how to build …
  • self@awful.systemsEnglish
    28·
    2 days ago

    The dotcom bubble didn’t rid us of dotcoms.

    wait… is your definition of dotcom any corporation that owns a .com TLD domain? that’s so fucking precious, I love it

    • kitnaht@lemmy.worldEnglish
      18·
      2 days ago

      https://en.wikipedia.org/wiki/Dot-com_bubble

      Literally…the…definition. Did you think it meant something other than that? Because it’s quite literally in the word.

      Most of the sites today were survivors of the era of easy venture capital, and they weren’t any different than the other dotcoms. The whole point was the widespread adoption of the internet, thus…dotcom; because they all started up .com web addresses.

      Google, Amazon, Ndivia, Ebay still dotcoms. Just survivors.

      We still have remnants of their behavior too - with things like Uber and Lyft.

      • 7toed@midwest.socialEnglish
        10·
        2 days ago

        At the same time, a decline in interest rates increased the availability of capital.[14] The Taxpayer Relief Act of 1997, which lowered the top marginal capital gains tax in the United States, also made people more willing to make more speculative investments.[15] Alan Greenspan, then-Chair of the Federal Reserve, allegedly fueled investments in the stock market by putting a positive spin on stock valuations.[16] The Telecommunications Act of 1996 was expected to result in many new technologies from which many people wanted to profit.[17] The bubble edit

        As a result of these factors, many investors were eager to invest, at any valuation, in any dot-com company, especially if it had one of the Internet-related prefixes or a “.com” suffix in its name. Venture capital was easy to raise. Investment banks, which profited significantly from initial public offerings (IPO), fueled speculation and encouraged investment in technology.[18] A combination of rapidly increasing stock prices in the quaternary sector of the economy and confidence that the companies would turn future profits created an environment in which many investors were willing to overlook traditional metrics, such as the price–earnings ratio, and base confidence on technological advancements, leading to a stock market bubble.[16]