Anyone remember those glorious days before the internet bubble burst?

Discussion in 'The Sound Hound Lounge' started by MikeyG, Feb 7, 2015.

  1. MikeyG

    MikeyG Supporting Member

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    Seemed like everyone and their brother was raking in the dough. You didn't even need to know much about investing, anything internet related soared.

    I think about what a fun ride that time was, gearwise.... I have mended my ways since, but that was a fun ride!!
     
  2. bgmacaw

    bgmacaw Member

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    Yep. I enjoyed raking in the big bucks as a high flying consultant for a few years. Then the bottom dropped out and I haven't even come close to making what I was making those years. Now, nobody wants you when you're down and out...

     
  3. paranoid70

    paranoid70 Member

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    Many of the people that thought they were 'raking in the bucks' often weren't. They had useless stock options and really never amounted to anything.
     
  4. bgmacaw

    bgmacaw Member

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    The options amounted to something, a big financial nightmare courtesy of the IRS in my case. Of course, I made a lot of cash up-front too but I didn't stop to think lean times would come again, especially not so soon, and ended up pissing most of it away.
     
  5. DustyRhodesJr

    DustyRhodesJr Supporting Member

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    It was great for me while it lasted. I wasnt hit as hard financially as a
    lot of people, because I always lived well under my means.

    But I lost a lot of money in the market. Fortunately, I made it all back
    on two stocks- Oracle and Amazon, it just took a very long time to make
    it back.
     
  6. mikebat

    mikebat Member

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    I worked for a dot com, stocks were often used as motivators. I left before the bubble burst.
     
  7. hanales

    hanales Member

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    Man it was a nightmare after the bubble burst. You'd put an ad out for a position and get literally hundreds of resumes from dotcommers who were not qualified for the gig. I was a little young to get in on the ground floor so I never bothered and just kept with my slow growth gigs. That ended up working out well for me as I've gotten older since I have a pretty stable career history. I felt bad for good technical people that got screwed by hopping around. I can't tell you how many "web programmers" would apply for help desk or systems/network positions, or higher level programming jobs (cobol, C) back then.
     
  8. Teleplayer

    Teleplayer Silver Supporting Member

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    Good friend of mine, since passed away, was a trader. Serious **** - owned two seats on the Chicago Merc X-change, traded electronically from his house. Back in the rah-rah late 90s, he was pulling in about $800k/year working 4 hours/day from his house.

    He was a KILLER vocalist as well, and also played guitar. Total gear head. He would go out and drop $15k at a time - online or in-person (didn't matter). One day, all of a sudden a couple Suhrs, a TopHat and a Bogner would show up at his house.

    Then he would turn around a couple weeks later and sell it all. The market was so heated, and he cared so little about losing money on the gear, his stuff would sell in a couple hours.

    The appetite back then for boutique gear was just heating up, and nothing sat on the Internet for long, assuming it was even remotely fairly priced. Those were the best of times....and the worst of times.
     
  9. guitarjazz

    guitarjazz Member

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    You don't invest in (vintage) Gibson and Fender?
     
  10. mulvavroop

    mulvavroop Member

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    I never worked the market, but boy did I make more per hour with less hours and better benefits during the "bubble" than I do now. Same job (legal support staff = computer monkey).
     
  11. SamBooka

    SamBooka Member

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    Vaguely, i remember working for an IT firm and getting free bagles on wednesdays.. a coke machine that didnt need money .. and that was about it.

    What I also remember was when you could still get a good deal on Ebay without having to pay rediculous service fees and sellers were not gouged.
     
  12. MikeyG

    MikeyG Supporting Member

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    Was that peoplesoft by chance?
     
  13. Lumpy Trousers

    Lumpy Trousers Member

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    Yeah, I remember it. I worked for a large telecom company. Stock options out the bazoo and a stock matching program (buy $1 worth of stock and they'd give you a $1 worth of stock). Worked long hours with huge amounts of stress - but the stock kept climbing up - close to $140 a share at the peak.

    Then the bubble burst. Stock went down to $3 a share. Stock options worthless. Lost most of the money I put into the stock matching. Was laid off and it took me close to a year to find another job.
     
  14. hellbender

    hellbender Member

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    Good lord. I worked in a high tech industry right next to telecom valley. Warehouse workers who took stock in lieu of raises were overnight millionaires. The unemployment rate was 2%. You were given $500 to bring a new employee in if they stayed 6 months. The hr people were standing up next to the highway hiking up their skirts to get people to pull over and interview. Insane rents and home price appreciation. Stock market gone wild. $3-4K days in the 401k. Why work?
     
  15. SamBooka

    SamBooka Member

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    nope.. but my brother in law has been with peoplesoft as long as i can remember.. I can ask him what has changed :)
     
  16. Nevets

    Nevets Supporting Member

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    Those were some pretty great years. Flying all over on expense accounts. Too bad it coincided with the time I had given up on playing and was focused on nothing but work, work, work!
     
  17. MikeyG

    MikeyG Supporting Member

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    Lol, yeah PS was all about the free bagels and soda, it's where I gt truly hooked on diet coke.

    Apparently this was a more prevalent practice in IT.

    I still do PS work.....
     
  18. Fishyfishfish

    Fishyfishfish Member

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    Funny, I was talking about this Satuday with my brother in law. Flipping PRS and bad cats to selling everything I owned to keep afloat.
     
  19. aliensporebomb

    aliensporebomb Member

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    The 401k I built up in those days will probably let me retire one day.
     

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