There was an article in the paper today about what has become of the once bustling dot com real estate of San Francisco. I visited the Bay more than a few times during that time and I was thinking back to my own dot com experiences (few and far between that they were). More than dot com experiences I have strong memories of dot com bust experiences.
Between '98 and '02 I was in college so I didn't experience the whole live large culture of that time in San Francisco. I vividly remember friends graduating more than a year before the bust and hearing stories of people going into consulting with HUGE signing bonuses. At that point to graduate and get a consulting job paying 60-70 to start was very common. I knew more than a few people that were signing 5 figure signing bonuses. I remember being wide eyed and naive at my own seemingly imminent employment in the same fashion. I wonder for a quick second where my life would have taken me if I had landed one of those accenture jobs. Then the bust started. I believe the peak of the market was in the spring of 2000, which means that the class that graduated one year before me (spring 2001) got dealt the really bad hand. They were the ones that didn't know what hit them as they job hunted and got offers 5-6 months after the market peak. At that point even though everything was declining we hadn't felt the effects yet. Then as the school year progressed offers started to be postponed (start after the summer...start in the fall...). Postponement led to offers being rescinded. I remember hearing about the first people that had offers rescinded. At this point the company was perfectly fine dishing out a five figure severance package to someone they didn't hire instead of a five figure bonus. By the time I was graduating we were well aware of what was going on around us and that the chances of us getting immediate employment was slim. Arguably our class was luckier because we had enough time to consider other options like graduate school.
My other memory of the dot com times were tracking stocks of companies that I heard or read a lot about. I remember WebVan and being engaged by the service the provided. I was convinced they had a good idea and would have bought stock at the time (thankfully I didn't have much money). I satisfied myself by watching their stock prices somewhat regularly.
Anyways just my random musings. I'm not even sure who if anyone is still reading this...not that it matters though as I'll keep writing and posting for your workweek reading.