| ▲ | lelanthran a day ago |
| > Most of the top players involved in AI right now are going to be rich. Almost all the "top players" in the dot-com crash died or lived on in relative poverty; only Google and Amazon turned out "very rich". |
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| ▲ | onion2k a day ago | parent | next [-] |
| A large number of companies failed in the dotcom crash, but the founders did pretty well if they'd made it to an exit event. Don't forget that it was a stock market bubble imploding. The founders and early employees had already sold shares in the IPOs that put the companies on exchanges. It was the investors who bought stock that lost money. The after effects were that it was virtually impossible to raise capital for a while afterwards, so the next round of founders struggled. But then interest rates went to practically zero and money got cheap so it was all good. |
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| ▲ | wildmXranat a day ago | parent [-] | | The founders doing well is not mutually exclusive to the overall crash as experienced by the public. Also, a lot of founders are doing well even before they take on a venture. 8/10 founders from successful high growth startups self report as middle to upper-middle class background and 50%+ have elite education from top 10 schools. You're right, the broad market drags down all retirement savings and those who are about to hit the age of 60+ pay most dearly. |
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| ▲ | 47282847 a day ago | parent | prev | next [-] |
| Wait. Are you talking companies, or people? Companies come and go. They are replaceable virtual containers for people. I don’t think it’s appropriate to apply the term “poverty” to companies. |
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| ▲ | teruakohatu a day ago | parent | prev | next [-] |
| The Yahoo founders left with never-fly-commercial money before re-joining the billionaire club by investing the money they had. Others that survived post-IPO include eBay and Dell. There were high profile failures but we have had those recently too eg. pet.com (dot com) and color.com (post-dot com, domain has since been repurposed) |
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| ▲ | locknitpicker a day ago | parent [-] | | > The Yahoo founders left with never-fly-commercial money before re-joining the billionaire club by investing the money they had. I think you're confusing people cashing out with actually creating a successful company. Yahoo is not what people would describe as flagship company, or pets.com or Ask Jeeves or myspace or Voat or whatever. The dotcom bubble made a lot of people rich, but most examples were at expense of bag holders. | | |
| ▲ | antupis a day ago | parent | next [-] | | Yup, if you google what founders in those 'failures' did was that they pretty much jumped vc side or founded more companies and have had very successful career. Not mind boggling like Bezos or Brin but still very cool career. | |
| ▲ | belg1o a day ago | parent | prev | next [-] | | You are the one confusing what success is. If you go by current standings in the market, yes, Yahoo is no longer at the top. Yet Yahoo was one of the most valuable and influential tech companies in the late 90s, early 2000s. | |
| ▲ | red-iron-pine a day ago | parent | prev | next [-] | | taking the money and running is the dream of the VCs if you believe the milton friedman approach to economics, a company has no other value in that what it can provide to the owner (shareholder) take your millions while it burns and, as the parent said, never fly commercial again | | |
| ▲ | vladms 21 hours ago | parent [-] | | For a VC "running" would mean re-invest in the next thing to get more money. What alternative would you prefer? Keep doing the same thing without investing in new stuff? They don't "take the money", there are other people that believe some things (profits/growth in a field) will last forever and will bring 10x return, so they are willing to give them the money. |
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| ▲ | nickpp a day ago | parent | prev [-] | | No successful company is on top forever. Just take a look at the top companies 20 or 30 years ago: where are they now? Nowhere near the top. |
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| ▲ | misja111 a day ago | parent | prev | next [-] |
| eBay, Priceline (now Booking.com) did very well too |
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| ▲ | motbus3 a day ago | parent [-] | | It would be hard to make a list of things we forgot about because they failed 30 years ago |
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| ▲ | jibalt a day ago | parent | prev | next [-] |
| I know numerous multimillionaire dot-com techies. I guess they're not "top players". |
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| ▲ | reverius42 a day ago | parent | prev | next [-] |
| Mark Cuban? |
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| ▲ | ghtbircshotbe 21 hours ago | parent | prev [-] |
| Jim Cramer lost big but has continued spouting nonsense ever since pretty successfully |
