Business Services Industry
Ten Worst Dot-Coms Show How Bad Ideas Fed the Web Bust.
Knight Ridder/Tribune Business News, May, 2002
By L.A. Lorek, San Antonio Express-News Knight Ridder/Tribune Business News
May 18--Like the classic fairy tale about the emperor who doesn't wear any clothes, the Internet boom was built on imagination and hype.
During the peak of the Internet frenzy, no one wanted to say: "Hey, how is this wacky dot-com company going to make any money?" Now everybody is asking those questions.
How did hundreds of dot-com companies based on dumb ideas, backed with millions in venture capital and without any products or revenue, sucker so many investors?
"As long as people were having great parties and staying out all night, everyone looked the other way," said Richard Laermer, chief executive officer of RLM Public Relations in New York and...
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