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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Alex MG who wrote (153638)	2/24/2003 8:47:51 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 164685

feels like your average recession to me. No worse than what we had in california a decade ago if you were working in defense. This time it hit consumer oriented technology, in other words the north of the state vs. the south. Happens every 10 years. I was a hiring manager in the bubble and something was very wrong with the climate, you couldn't get good people (all the best people were staying home trading stocks), 25 year olds were demanding salaries as if you were negotiating with Michael Jordan- it was almost a 70s mentality with tech workers as if they deserved to be grossly overpaid and not work or something. For people like me who have been in this industry for 10+ years it was somewhat disturbing because prior to 1996/7 you really had to work like hell AND get lucky to take a company public. This couldn't go on fundamentally, there had to be a giant purge and thats exactly what has happened. Now I don't pretend to say that I expected things to be this bad wrt fundamental demand for software. I thought we would have leveled off before now. But I still say that long term the software business is better off going through this restructuring. I don't think Greenspan caused the bubble, he added to it sure but other tech bubbles had nothing to do with AG and the outcome was the same. The last one was that PC froth in the early 80s, there was a large purge after that too. There was also a mini-crash for database software in the early 90s with oracle and sybase crashing to 1/20 their prior valuations. Those companies came back.