A minor correction: 56 kbps didn't meant kilobytes per second, but kilo_bits_ per second. So the theoretical download speed on a 56k modem was 7 kilobytes per second, but phone line quality meant that at best you could only get 4.
well then the minneapolis st paul metro area had really good phone service. i regularly got 5.+ with qwest and at&t and sprint. u.s. robotics modem tho, all the other modems were stuck at 3-4.7
And I used that song to win Student President in 1999 It was being played in 99 and we WERE partying- he's right. Some ppl really thought it would be the beginning of chaos/ "end of the world"
I lived the Dotcom Boom and this was a very solid recap. The only thing that was new to me was Y2K. I really considered that just a sideshow to the bubble created from our collective "irrational exuberance." We honestly thought we were creating a New Economy that was immune to the boom/bust cycles of our fathers' economy. It sounds very naive today, but we were young and convinced the internet would make us smarter, more informed, healthier, more productive, and better global citizens. There are definitely many similarities to the economy of the last two years. But as a general rule, when historical valuations for fast growing software companies are 8-12X, and you are in a market providing 100-150X, you and everyone around should know you are in a bubble. 😉
Uhhhh y2k I remember that people were talking about it, I was 4 at the time....... I'm very surprised you didn't know about it since it was mostly adults at that time talking about it. I'm calling cap
Lol the key difference is, if the AI bubble doesn't pop, it will likely subjugate our species 😅 it's a doomed if you do, doomed if you don't kind of situation
Y2K: I was working on transport & logistics optimisation software in '99. Our full team got hired by a big transport company and we went with a tight, part no-cure no-pay contract and worked very hard to reach the first milestone: prove we could reduce the manually planned mileage by at least 10%. We did & got all applauded at the project acceptance meeting, the software outperformed our customer wildest dreams, we were on top of the world. Two days later we got the news our project was axed. I called my close contact at the customer, like wtf mate?? and he replied that the same day we did our presentation, the payroll sofware supplier walked in with a Y2K doom story and convinced the customer's board to agree to an obscene budget to fix it. That was a common story back then.
y2k was not a waste though, a bunch of people did huge amounts of work plus people had been warning about y2k since the 70s, on one hand its sad that people kept pushing that problem further along on the other ... thats just humans
Just like today. Hedera Hashgraph and Solana will probably survive tho. Dotcom Bubble Veteran Google is backing BOTH of them.. Move how the experts move😉
Its tough - low interest rates persisted FAR longer than i ever thought they would. For housing i am seeing houses sell for 30% or more over asking all cash offers. Anecdotally i hear from local business leaders that they are getting blanket offers to buy up whatever they have. I see houses worth 400k selling for nearly 500k in areas where the median HOUSEHOLD income is only 60k It seems like madness on its face, but i honestly cant say how or if its going to end anytime soon. I mean something has got to eventually give right?
Ohhh that’s why I also landed up to watch it, I thought this guy has predicted fall in 2024 in 2022!!!! Must be some kinda wizard… now I know he’s just a cheater!!
Well this video aged well…it would seem like we are now officially in another bubble. It would be interesting to do a follow-up video to this. All of the global disruptions occurring right now might mean the recovery from this bubble’s pop might be quite a bit more difficult than 2000…
I don't think we are in a bubble now. In fact, if anything is correct as a bubble it would be the "everything bubble", which is not a bubble, but simply a recession. QT will last another 12 months minimum, so be prepared for pretty much everything to continue to go down for a long while. The winners will be those things that hold their current valuations (not gain), like real estate, and some proven tech. Of course, which ones are proven is a matter of opinion. So no point in calling anything out. But you won't be making money in the short term. Sitting on cash is probably the best move until the QT putters out.
@@Sadigziggi What if we get hit by a 10km wide meteorite? Well, we all die. I don't care about what ifs. My honest opinion is that we have more recession to enjoy for a while. Grab up more cheap stuff. But not now, we are in a bump. This will not last.
It's insane that this channel isn't bigger with quality videos like this! Sometimes it makes me a bit sad when I see people who do very little effort get millions of views, and then channels like us who never reach that even with tons of effort haha
Not everyone is supposed to have growth mindset who consume productive content like this channel has to offer. If you are a regular visiter of this channel surely you have the fire to change this world and you will stamp your name on the world. :)
you making videos teaching people to be entrepreneurs and build businesses that transform the world and help humanity. yet you haven't built one yet. so what all the fuss is about lol
You do a great job! I was in my 30's in the 90's as a software engineer. I helped mitigate Y2K on a team addressing more than a million lines of code. I watched the Dot-coms go crazy and then crash. I remember the hype and emotion of both-fear and elation and then relief and depression. Human beings do not seem to learn. We find it hard to remain sober and get swept away in the emotions of groups, trends, and fads.
I was just a child in the 90's but can say the Internet has ruined everything it created the recession in 2007 as everyone by that time had access to the Internet. The Internet has completely ruined the global economy
Each and every stock market crash and correction in history has proved to be a buying opportunity for long-term investors. Eventually, a bull market always erases a correction or bear market decline.
Bubble is going to burst and it will inflate again and again in somewhere. I guess it is quantum computers that will experience the next bubble in the future, since it is quite promising and investing expectations will be quite high after cryptocurrency burst/covid-19 recession. Those people who gambled their savings will try to recover.
56 kiloBITS per second, which is 7 kilobytes per second. After packet overhead and dropped packets, you would be lucky to download a 3MB MP3 in 15 minutes.
15 mins? You couldn't utilise the whole speed usually it would download songs on napster at around 3-5kb/s it was brutal. You would stick 2 or 3 songs on to download and it would take all night. I remember downloading WWF matches as a kid and it would be downoading over several nights for a couple of hours each night. Going on the internet also tied up the phone line so usually you were only allowed on by your parents for an hour or two and night,
I worked for computer manufacturers and ISPs on the tech support phone lines in the late 90s. I can tell you that most people could barely get 33.6k. 56k was NOT the average, but I guess the example offered in this video is close enough. In early 1995, I had a 14.4k modem connected to a 386SX 16MHz computer w/ 4MB RAM running DOS 6.22 and Windows 3.11.
Exactly what I came back to write. Seeing it hit 3.9kps was like seeing the face of God! Downloading Quake took around 9 hours. I would start downloading a movie on a Friday night to watch Saturday evening.
@anything; everything yeah Napster was the original bit torrent type shit for illegal downloading of music and stuff. It became legend back in the day after metallica and a bunch of other ass hat musicians campaigned to shut it down. After napster was gone though new ones popped up. Kazaa and Limewire were the two main ones after that. They werent torrent sites they were programs you ran on your PC and you would be downloading peer to peer, so like if im downloading a song I was downloading it from another users PC who was sharing the files. You used to download songs only to find out it was actually some guys garage bands shit recording/demo track that they've renamed as "nirvanna - lithium" or whatever just to try and get people to download and listen to it haha.
I get so mad when people joke about Y2k. My dad wrote code for 3 years for HP. That's 3 Christmas mornings I didn't see my dad. Y2k didn't happen because people didn't see their families
Your dad was doing real work and solving an actual problem. But there were significant parts of the Y2K story that were greatly exaggerated and even straight up lies to sell magazines and software. When we make fun of y2k and call it a hoax, those are the people we're making fun of, not people like your dad.
As someone who works in data analytics (I code a lot so tech) I’m very worried that we are coming upon a new bubble pop in tech. I work for a more recession proof industry, doing analytics for a non-tech grocery chain company, but I still feel anxious. I really hate how many companies treat employees like disposable & how investors love layoffs. I’m glad I’m working in a more computer science role but I really have an Econ background in education so I can go back to that more if needed & my skills will transfer (economists code as well).
I am a relatively young lad, but I remember when my friend download 1mb through internet and it took "only" 30 minutes and I was impressed how fast it was :D I couldn't imagined that those speeds or even faster will be available one day on a wireless system or even on a phone (and don't cost arm and a leg at the same time).
@@rohitghali Underlying tech is Ethereum. The tech allows data transfer via blockchain rather than just the transaction data itself. In theory, you can build apps from it which rely on smart contracts for execution of encrypted data. Unlike Bitcoin, for obvious reasons, it's in unlimited supply. That makes it less valuable over time, unless the "killer" app is developed - but that "killer app" would probably be an international banking system, which would set it's own rates independent on the actual ownership of said coin.
@@gawbagecan that answer probably just confused me more as to what the value in an nft is lol. sounds like they are trying to recreate a system that isnt broken, except the new system just costs a shit ton of money to use.
The jump in the quality of production in these vids in such a short amount of time is very impressive, I'm hooked and binge watchin em...well done people, well done...🔥✌🏻
I dont remember this at all. I was too busy pounding four Lokos and getting thrown out of bars for pissing in the kitchen sink. What a time to be alive.
Him: Yes, "that" Marc Andreessen Me: Who??? Also at 2:42 I think you mean bits not byes (not criticizing, just saying). Awesome video BTW. Very good presentation and I love the graphics.
When you decide to try your hand at stock picking, its essential to do your homework. Your goal is to find a good value especially if you plan to hold on to an asset for a while.
Before putting full faith in a company, its best to do thorough research, reviewing a stock's fundamentals to monitor its viability and checking if it still has room in your portfolio.
Brian there are still great stocks on the market with big room for growth, and consistent investors with a steady approach should be able to seize opportunities created by the uncertainty.
I just graduated back in 2021, 1/2 of my CS graduating class didn't survive and end up doing non computer stuff at all in their career. Gone were the super good pay and of course we were barely surviving till probably around 2006 or so. Watching your video reminds me that today's COVID is back then's Y2K, today's crypto is back then's dot com, and today's China Evergrande is back then's Japan entering recession. So my guess is after COVID is finally over the stock boom is going to end.
Oh, BTW my first job in 2020 had a new grad salary of $50k, after the bubble pop I found a job 1 year later for $36k, it was something I couldn't survive on for long, then 3 years later it became $56k in another company, then in another 3 years it became $90k. Now the new grad salary is about $80k in the similar field but in FANG I heard you can get $120k, and those senior engineers in FANG get like $350k.
This combined with super low interest rates continuously created a culture of blind investment in the start of sphere. A lot of start ups were only selling and idea and not even a product but it didn’t matter as long as big tech was buying up any company. The reason 1 in 5 start ups make it is cuz must of them are like this. The companies that make it though this will be worth investing in. Just like Amazon was during the tech bubble crash.
Great video! Learned a lot. Also, didn’t know Y2K could be such an issue for the date formatting in computers. A trivial problem of that time but such minute thing now. Also, something to look back and appreciate the effort went behind solving it.
We spent a lot of money on Y2K as an industry. Had we fixed it when we first identified it in the 70s, it would have cost millions. WE rushed to fix it in the 90s, and spent hundreds of billions collectively to do so
All it'd taught me was there was so much variables and each of those variables is like a professional profession like a doctor or engineer, it'd need so much research or you're already too rich to lose a significant enough amount if your try, failed.
This video is by far the most AMAZING video you guys have ever made! the amount of work that was put into it is so obvious on how high-end and valuable it is. great job Caya and the whole team behind it ❤
Yeah it's kinda hilarious to watch the dumpster fire explode lol. Half of these "AI" companies barely even have a business model or any plan to actually make money. It's all about buying as many $50,000 Nvidia AI chips as possible and hoping that investors don't catch on to the ruse. Especially for all these new large language models, the only way they can make any money is a subscription to access it but because there are now so many of them if you want anyone to care it has to be free. Investors are so gullible LMFAO 🤣
@@drabberfrog what's worse is that those subscriptions are already at a heavy discount. when the time comes to collect and the costs go waaay up, i want to see how many businesses will keep their AI stuff
This vlog is so timely! The dot com bubble was internet 2.0 and those companies that survived are now worth Trillions of dollars. Blockchain or web3.0 bubble burst is about to happen and only those coins with utility and real value will survive and will become the new trillion dollars industry.
"Party like 1999" was a saying that started in 1982 with a prince song..... I remember it was popular to say in the early 90;s. So the actual things that happened in 1999 have nothing to do with that saying
The capital that was needed for the European tech firms was instead put into the 3G licences (UMTS) which many large european nations sold for high expenses (and made 3G data very expensive in these countries (UK, France, Germany) and extremly cheap in countries that did not (Sweden))
This pre-2K craze had also attracted scammers like Syncronys, which promised that their program SoftRAM would allow to store twice as much data in the (very expensive) RAM (which it didn't, it just enlarged the Windows swap file on the hard disk). The main aim of that company wasn't to make functional programs; it only wanted to attract enough buyers that their penny stocks would grow exponentially, then they would take the money and run. Only that they got intercepted by some PC tech magazines, that got suspicious when they noticed the rather unlikely feat that Syncronys claimed to have achieved, and started investigating.
Frustrating thing about the Y2k bug: It was identified as a major risk early and people sunk a *lot* of time and effort into preventing anything terrible from happening. They succeeded! And the mass reaction was "Oh nothing happened. Why were we ever even worried about that?". >_
The millenium bug was very limited and affected very old systems only. It was used to fool people but it waa not done by IT peopl, it was made by people working on finance because they are greedy frustrates loosers. In 2038 there could be a similar problem with unix/linux operaring systems, and could impact more systems. Anyway, today we have millenial bugs everywhere on the planet.
As a software guy, it was an opportunity to go into the code and clean up crap that shouldn't have been there in the first place. These days its called "technical debt".
Loki is out and I am here, on your channel, bing watching every video you have posted. That's amazing man. Your channel definitely deserve way more subscribers than it has already. Love the content, love the script, love the execution! Thanks for sharing ;) :D
Just want to say thank you. I learned so much, and everything about this video was fantastic. Why can't we figure out how to create content like this to teach history in schools?
Thanks for the compliment! Indeed learning with this type would be awesome... but it’s not so easy to produce. This video comes after some 3 years of trial and error creating RUclips content.
@@cayahere this video deserves millions of views. The massive number of work hours and accumulated experience was palpable. This led me to your channel, and I can't wait to watch more. Thx again!
I'm a teacher. Not much need to make video especially for schools. There is almost always some legend on the internet that has done a wonderful job. I just point learners to high quality and accurate videos that someone else made! One role of a teacher is to be a media curator and choose the best content for the job
Don't be scared. Times have change. And more money is in the market nowadays compared to back then. Dot coms was new and nowadays it's a part of the whole economy.
@@osceerw3664 Nothing changed besides our entire lives being based on the internet... what you commented on, RUclips, owned by Google, you made Google money. I can't see internet based stocks being a bubble right now, because there is so much money being pumped into it by people globally. I can see crypto being a bubble though, it doesn't have much real uses right now except for making some people money. No one is going to the grocery store and paying through bitcoin.
3:19 In 1995/1996, most households were on 9.6 kbs, 14.4 kbs, or 28.8 kbs. Only people who bought the newest equipment or upgrades (and were willing to pay for it) had 56k modems in 1996. So the truth is actually far worse than the speeds in yellow. This is like saying that "everyone" has 1-2 Gbs fiber today when actually it's a percentage of the population at the top that has those speeds.
2:41 56Kbps means Kilo bits per second, not Kilo Bytes per second. Bits are only 1/8th the size of a byte, which means it was actually 8x SLOWER than what you said in the video.
Back in 1999 my aunt demanded we all come out and be prepared to spend some time at her rural property because of Y2K. She had a well, food stock piled and ample wood for heating over winter. She was very worried the grid was going to collapse. Fast forward 21 years... I'm the prepper. I just wish I could afford a property like that. We don't see eye too eye on many things, but we can come together on having the skills, knowledge and frame of mind to take care of those we care about.
I snuck down to the basement while everyone was counting down to New Years on Y2k at the party I was at, and switched the power off when they got to 0.
Amazing detailed video, I’m 35 and work in technology so I saw the times and my household go from a Pentium 1 to the internet and beyond! Who remembers Lycos!
"Party like it's 1999" is a reference to the Prince song as he was imagining 1999 in the future in 1982. Nothing to do with the stock market in actual 1999
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
Pitch deck consulting services for startups looking to scale ► youtube.slidebean.com/dot-com-1
4
@@basicallyAI you bdon oe onek
😀❤️😭🥃
It's year-month-day, goddammit!
0:00 people in
Hi
I saw a video of the Hauwei AutoDrive L4....do you know where I cam find it? If Im not mistaken its fully operational.
A minor correction: 56 kbps didn't meant kilobytes per second, but kilo_bits_ per second. So the theoretical download speed on a 56k modem was 7 kilobytes per second, but phone line quality meant that at best you could only get 4.
yeah, he's right: 4 years per KB
well then the minneapolis st paul metro area had really good phone service. i regularly got 5.+ with qwest and at&t and sprint. u.s. robotics modem tho, all the other modems were stuck at 3-4.7
Manna Mannan animal
Not minor, its a HUGE MAJOR mistake, especially when you're making such videos!
@@harshitbhatt3243 but hes a tech company CEO
The video is NOT answering your title, booh!!!
Title isn’t phrased as a question
HE CHANGED THE TITLE AND THE THUMBNAIL
@@Validonelowhat was the original
enter deArrow
it shows crowdsourced title "Explaining the dot-com bubble and it's history" for this
@@danik0011 nice, installed the extension. thx for the tip
8:39 "They don't say 'let's party like it's 1999' for no reason"
That song came out in 1982
And I used that song to win Student President in 1999
It was being played in 99 and we WERE partying- he's right. Some ppl really thought it would be the beginning of chaos/ "end of the world"
I lived the Dotcom Boom and this was a very solid recap. The only thing that was new to me was Y2K. I really considered that just a sideshow to the bubble created from our collective "irrational exuberance." We honestly thought we were creating a New Economy that was immune to the boom/bust cycles of our fathers' economy. It sounds very naive today, but we were young and convinced the internet would make us smarter, more informed, healthier, more productive, and better global citizens. There are definitely many similarities to the economy of the last two years. But as a general rule, when historical valuations for fast growing software companies are 8-12X, and you are in a market providing 100-150X, you and everyone around should know you are in a bubble. 😉
im not only more informed but also more deformed. in terms of posture sitting at the computer for too long.
leftists will be leftists 😂
as naive then as they are now. Trying create the utopia by destroying everything around them
I'm Born in 1989.
You explained this immaculately.
Thank you
Yeah but.... This time feels different 😉
Uhhhh y2k I remember that people were talking about it, I was 4 at the time....... I'm very surprised you didn't know about it since it was mostly adults at that time talking about it.
I'm calling cap
Watching this video in 2024.
Say hello to the A.I bubble.
No no! AI is going to fix EVERYTHING! Just invest in ANYTHING with AI in its name.
🤣we will know for sure if the AI bubble pops. NVIDIA is carrying AI right now.
Lol the key difference is, if the AI bubble doesn't pop, it will likely subjugate our species 😅 it's a doomed if you do, doomed if you don't kind of situation
The fact that this video is 3 years old..
oh ho ho btw just a remainder interest rate are at all time high
Y2K: I was working on transport & logistics optimisation software in '99. Our full team got hired by a big transport company and we went with a tight, part no-cure no-pay contract and worked very hard to reach the first milestone: prove we could reduce the manually planned mileage by at least 10%. We did & got all applauded at the project acceptance meeting, the software outperformed our customer wildest dreams, we were on top of the world. Two days later we got the news our project was axed. I called my close contact at the customer, like wtf mate?? and he replied that the same day we did our presentation, the payroll sofware supplier walked in with a Y2K doom story and convinced the customer's board to agree to an obscene budget to fix it. That was a common story back then.
y2k was not a waste though, a bunch of people did huge amounts of work
plus people had been warning about y2k since the 70s, on one hand its sad that people kept pushing that problem further along on the other ... thats just humans
Caya: I don’t know much about dot com bubble.
Also Caya: Lets make the best video about dot com bubble on YT
This is what we set out to do 😎
Well... this blew up! 🙌🙌
Wow guys! That's the largest amount of likes I ever had on the internet. Thanks 😂
@@sirjareq so little content on this topic & it’s SO interesting/ valuable to learn about & comprehend! Brilliant job - More vids like this please
Damn Straight! "Those who cannot remember the past are condemned to repeat it" so I am trying to learn this stuff!
The weekend explaining dot-com crash was the last thing I expected
my thoughts
Savage
You've come so far Caya, the quality is amazing!
Thank you, sir!
Well done, that was an interesting time for sure
Good seeing you around here, Ben! Thanks!
We’re in a interesting time right now
Just like today. Hedera Hashgraph and Solana will probably survive tho. Dotcom Bubble Veteran Google is backing BOTH of them.. Move how the experts move😉
$GME Bid: 222.01 Ask: 223.48 Last: 222.50 Chg ($): -0.47 Vol: 55.47K
Its tough - low interest rates persisted FAR longer than i ever thought they would.
For housing i am seeing houses sell for 30% or more over asking all cash offers. Anecdotally i hear from local business leaders that they are getting blanket offers to buy up whatever they have.
I see houses worth 400k selling for nearly 500k in areas where the median HOUSEHOLD income is only 60k
It seems like madness on its face, but i honestly cant say how or if its going to end anytime soon.
I mean something has got to eventually give right?
Thumbnail was updated recently
Haha, I guess that's just good creator sense on this guy's part. He probably updates it yearly.
@@secretfolo154Everyone does this
Ohhh that’s why I also landed up to watch it, I thought this guy has predicted fall in 2024 in 2022!!!! Must be some kinda wizard… now I know he’s just a cheater!!
"All I cared about was my N64"
And rightly so my man, and rightly so
And no upsells
Well this video aged well…it would seem like we are now officially in another bubble. It would be interesting to do a follow-up video to this. All of the global disruptions occurring right now might mean the recovery from this bubble’s pop might be quite a bit more difficult than 2000…
I don't think we are in a bubble now. In fact, if anything is correct as a bubble it would be the "everything bubble", which is not a bubble, but simply a recession. QT will last another 12 months minimum, so be prepared for pretty much everything to continue to go down for a long while. The winners will be those things that hold their current valuations (not gain), like real estate, and some proven tech. Of course, which ones are proven is a matter of opinion. So no point in calling anything out. But you won't be making money in the short term. Sitting on cash is probably the best move until the QT putters out.
@@anthonylosego sitting on cash? With inflation? What if inflation gets really out of hand?
@@Sadigziggi What if we get hit by a 10km wide meteorite? Well, we all die. I don't care about what ifs. My honest opinion is that we have more recession to enjoy for a while. Grab up more cheap stuff. But not now, we are in a bump. This will not last.
@@anthonylosego it's not a what if. It's a global trend. Buy gold.
@@anthonylosego what’s this qt you speak of ? And how is keeping cash good with inflation this high ?
It's insane that this channel isn't bigger with quality videos like this!
Sometimes it makes me a bit sad when I see people who do very little effort get millions of views, and then channels like us who never reach that even with tons of effort haha
Woooord
Exactly. I have been a long time subscriber, but when I saw this video, I thought how is this channel not have 1m sub already.
Don't worry, he'll grow
Not everyone is supposed to have growth mindset who consume productive content like this channel has to offer. If you are a regular visiter of this channel surely you have the fire to change this world and you will stamp your name on the world. :)
you making videos teaching people to be entrepreneurs and build businesses that transform the world and help humanity. yet you haven't built one yet.
so what all the fuss is about lol
You do a great job! I was in my 30's in the 90's as a software engineer. I helped mitigate Y2K on a team addressing more than a million lines of code. I watched the Dot-coms go crazy and then crash. I remember the hype and emotion of both-fear and elation and then relief and depression. Human beings do not seem to learn. We find it hard to remain sober and get swept away in the emotions of groups, trends, and fads.
I was just a child in the 90's but can say the Internet has ruined everything it created the recession in 2007 as everyone by that time had access to the Internet. The Internet has completely ruined the global economy
Each and every stock market crash and correction in history has proved to be a buying opportunity for long-term investors. Eventually, a bull market always erases a correction or bear market decline.
@16vjtdalfa have you seen what the price of microsoft is? most noobs tend to over complicate investing which is why they don't make anything!
@16vjtdalfa your right price to earnings are like 50x it's insane.
Bubble is going to burst and it will inflate again and again in somewhere. I guess it is quantum computers that will experience the next bubble in the future, since it is quite promising and investing expectations will be quite high after cryptocurrency burst/covid-19 recession. Those people who gambled their savings will try to recover.
@@turbanlisimge16 You are bang on my friend. Great assessment of what is to come. 👊
I remember my 33.6k modem, plus if anyone picks up the phone to make a call you got disconnected from the internet. What a time ahaha
I have zero experience when it comes to video editing but I wanted to take the time to admire the 3D infographics. Super nice production.
Well done on the meeting table 3d graphics 👏
🤗
Aleem, your videos are awesome too by the way I watch them ;)
Yes, that is pretty cool.
Fo sho
@@unlockwithjsr bn
Bj
"Are you still watching?"
Me: Yes of course, I want to know how today's story will end. History predicts the future after all.
If you're trying to avoid losing a bunch of money in a stock market crash just buy engery stocks and reits for now
These 3D animations and graphs are out of this world! Amazing editing
If you didn't mention what decade you were talking about in the video, this could easily just be today.
lol, word.
56 kiloBITS per second, which is 7 kilobytes per second. After packet overhead and dropped packets, you would be lucky to download a 3MB MP3 in 15 minutes.
Lmao tell that to my fiber connection :)
15 mins? You couldn't utilise the whole speed usually it would download songs on napster at around 3-5kb/s it was brutal. You would stick 2 or 3 songs on to download and it would take all night. I remember downloading WWF matches as a kid and it would be downoading over several nights for a couple of hours each night. Going on the internet also tied up the phone line so usually you were only allowed on by your parents for an hour or two and night,
I worked for computer manufacturers and ISPs on the tech support phone lines in the late 90s. I can tell you that most people could barely get 33.6k. 56k was NOT the average, but I guess the example offered in this video is close enough.
In early 1995, I had a 14.4k modem connected to a 386SX 16MHz computer w/ 4MB RAM running DOS 6.22 and Windows 3.11.
Exactly what I came back to write. Seeing it hit 3.9kps was like seeing the face of God! Downloading Quake took around 9 hours. I would start downloading a movie on a Friday night to watch Saturday evening.
@anything; everything yeah Napster was the original bit torrent type shit for illegal downloading of music and stuff. It became legend back in the day after metallica and a bunch of other ass hat musicians campaigned to shut it down. After napster was gone though new ones popped up. Kazaa and Limewire were the two main ones after that. They werent torrent sites they were programs you ran on your PC and you would be downloading peer to peer, so like if im downloading a song I was downloading it from another users PC who was sharing the files. You used to download songs only to find out it was actually some guys garage bands shit recording/demo track that they've renamed as "nirvanna - lithium" or whatever just to try and get people to download and listen to it haha.
In 2000 I was 21, and just getting started in my IT career. I definitely remember the Y2K fears
I get so mad when people joke about Y2k. My dad wrote code for 3 years for HP. That's 3 Christmas mornings I didn't see my dad. Y2k didn't happen because people didn't see their families
I feel this
Your dad was just out getting cigarettes
Your dad was doing real work and solving an actual problem. But there were significant parts of the Y2K story that were greatly exaggerated and even straight up lies to sell magazines and software.
When we make fun of y2k and call it a hoax, those are the people we're making fun of, not people like your dad.
your Dad spent Christmas with his other family.
So true. I helped to fix the 2Yk problem for Ericssons AXE telephone switches and there were a lot of faults.
I'm 40 and remember dialing into bulletin board systems in the 90s, which were like a precursor to the internet. Crazy times
8:39 (Let's party like it's)1999 is a Prince song from 1982.
As someone who works in data analytics (I code a lot so tech) I’m very worried that we are coming upon a new bubble pop in tech. I work for a more recession proof industry, doing analytics for a non-tech grocery chain company, but I still feel anxious. I really hate how many companies treat employees like disposable & how investors love layoffs. I’m glad I’m working in a more computer science role but I really have an Econ background in education so I can go back to that more if needed & my skills will transfer (economists code as well).
I love how the CEO of slidebean is becoming a journalist now. Nice
I am a relatively young lad, but I remember when my friend download 1mb through internet and it took "only" 30 minutes and I was impressed how fast it was :D
I couldn't imagined that those speeds or even faster will be available one day on a wireless system or even on a phone (and don't cost arm and a leg at the same time).
Crypto will be the next bubble. The survivors will change the world.
Exactly, so we have to chose wisely.
NFT
@@RaviShirpaliBeen in crypto for so many years, I still don't get what's the value in nfts...
@@rohitghali Underlying tech is Ethereum. The tech allows data transfer via blockchain rather than just the transaction data itself. In theory, you can build apps from it which rely on smart contracts for execution of encrypted data. Unlike Bitcoin, for obvious reasons, it's in unlimited supply. That makes it less valuable over time, unless the "killer" app is developed - but that "killer app" would probably be an international banking system, which would set it's own rates independent on the actual ownership of said coin.
@@gawbagecan that answer probably just confused me more as to what the value in an nft is lol. sounds like they are trying to recreate a system that isnt broken, except the new system just costs a shit ton of money to use.
The jump in the quality of production in these vids in such a short amount of time is very impressive, I'm hooked and binge watchin em...well done people, well done...🔥✌🏻
We figured we needed to do that if we wanted to get to those 1M subs
same here.... it was so visually pleasant to watch
20:29 "Are you still watching"? WTF man, that was so interesting video, how could I not watch it fully xD
“There’s something very familiar about all this” - Biff Tannen
Great quote
@Alan Silvestri, Pure gold comment, lol
I was there Gandalf, 3000 years ago... Jokes apart, I lived that period and it is amazing how you managed to nail the feeling of that era. Great Job !
13:12 Thanks for touching on that. The US seems to like complicating things for no apparent reason.
2002: OK, we learned our lesson
2022: Didn't say we remembered it
imagine some mad man done a 50x leverage short as soon as it started crashing
If WSB was alive back then, totally possible lol
watch "the big short" ;)
That mad man was Mark Cuban's put options on his own stock.
Mark Cuban was created that day.
It struck me when you opened with "all I cared about was my N64" - if only our parents stuck with fundamentally sound companies like Nintendo...
Cisco built the backbone of the internet and has continued but is still 40% from 2000 highs.
I dont remember this at all. I was too busy pounding four Lokos and getting thrown out of bars for pissing in the kitchen sink. What a time to be alive.
Tell your kids these tales one day. They will look onto thee, and proclaim "My Dad is a fookin' Legend"
8:39 I think the phrase "party like it's 1999" was coined in 1982... So I think it's more metaphorical than literal!
I appreciate that the video is 21:21 long
The only logical date format is the ISO standard YYYYMMDD. Date strings in this format, when sorted alphabetically, are also sorted chronologically.
It is also the Chinese date format fwiw
Lol, I was looking for this comment!
@@ongeri and hungarian too...
I may be MDY but I’d be willing to switch to that
THIS. THIS. THIS.
Him: Yes, "that" Marc Andreessen
Me: Who???
Also at 2:42 I think you mean bits not byes (not criticizing, just saying). Awesome video BTW. Very good presentation and I love the graphics.
When you decide to try your hand at stock picking, its essential to do your homework. Your goal is to find a good value especially if you plan to hold on to an asset for a while.
Before putting full faith in a company, its best to do thorough research, reviewing a stock's fundamentals to monitor its viability and checking if it still has room in your portfolio.
Most people just wanna buy any growth stocks they hear about, and a lot of stocks has underperformed lately.
Brian there are still great stocks on the market with big room for growth, and consistent investors with a steady approach should be able to seize opportunities created by the uncertainty.
With so much volatility in key stocks, it's kinda hard knowing which stock will do great or enhance ones portfolio, I've bought lots of bad stocks
Stock valuations have reached a level where a reckoning is only a matter of time
I just graduated back in 2021, 1/2 of my CS graduating class didn't survive and end up doing non computer stuff at all in their career. Gone were the super good pay and of course we were barely surviving till probably around 2006 or so. Watching your video reminds me that today's COVID is back then's Y2K, today's crypto is back then's dot com, and today's China Evergrande is back then's Japan entering recession. So my guess is after COVID is finally over the stock boom is going to end.
Oh, BTW my first job in 2020 had a new grad salary of $50k, after the bubble pop I found a job 1 year later for $36k, it was something I couldn't survive on for long, then 3 years later it became $56k in another company, then in another 3 years it became $90k. Now the new grad salary is about $80k in the similar field but in FANG I heard you can get $120k, and those senior engineers in FANG get like $350k.
What a magical time early internet was.
This combined with super low interest rates continuously created a culture of blind investment in the start of sphere. A lot of start ups were only selling and idea and not even a product but it didn’t matter as long as big tech was buying up any company. The reason 1 in 5 start ups make it is cuz must of them are like this. The companies that make it though this will be worth investing in. Just like Amazon was during the tech bubble crash.
there's literally no reason for me to use traditional TV ever again ahahahah
I have watched many videos, have read countless hours about dot com bubble but this video is the best summary of them all.
Thank you!
Great video! Learned a lot. Also, didn’t know Y2K could be such an issue for the date formatting in computers. A trivial problem of that time but such minute thing now. Also, something to look back and appreciate the effort went behind solving it.
He was spot on; tons of stocks spiked during Covid, but then plummeted after
bro predicted the future
🤷♂️
@@slidebean 👏
And the year might be correct too
@00:26 is really all i knew too, so this video really helped to explain things a little better. Excellent video and well timed.
14 year old me earned enough money for a down payment for a house while "prepping" computers for y2k....
34 year old me thanks myself
Wow, did u really make that much? I remember there was a mad dash to get upgrades done and a lot of $$ was getting thrown around.
Same here! But my house was zero up-front! :)
@@rokyericksonroks we made that much. Anyone that could flash a bios made upwards of $150 an hour, full timers 150k a year.
@@top_nigerian_news ..........Y2K didn’t kill more than 500,000 Americans......
@@top_nigerian_news The advantage of covid19 is that is doesn't have a deadline. They can just invent new mutations and go on and on and on...
We spent a lot of money on Y2K as an industry. Had we fixed it when we first identified it in the 70s, it would have cost millions. WE rushed to fix it in the 90s, and spent hundreds of billions collectively to do so
All it'd taught me was there was so much variables and each of those variables is like a professional profession like a doctor or engineer, it'd need so much research or you're already too rich to lose a significant enough amount if your try, failed.
Ahh I miss being a 90's kid goring up, I miss I could go back to my childhood for all the awesome toys I had back then
This video is by far the most AMAZING video you guys have ever made! the amount of work that was put into it is so obvious on how high-end and valuable it is. great job Caya and the whole team behind it ❤
Our pleasure! Glad you enjoyed it.
This video is aporossimative! Where were you in 2000? I may have the answer
08:40 “let’s party like it’s 1999” is not related though. Prince sang about that in 1982...
Nice summary! I also clearly remember my university classmates debating whether the world will end on 2YK...
Y2k
I enjoyed this apart from "they don't say party like its 99 for no reason", you're right we say it because of the song released by Prince in 1982.
This!
This is absolutely incredible. I've always wanted to really understand why and how the dot com bubble happened
Amazing! Thanks for the comment.
I see alot of simularities with the crypto market. Weve had 2018 but the next one will be worse. Only the coins with real value will survive.
AI is the next bubble right now
Yeah it's kinda hilarious to watch the dumpster fire explode lol. Half of these "AI" companies barely even have a business model or any plan to actually make money. It's all about buying as many $50,000 Nvidia AI chips as possible and hoping that investors don't catch on to the ruse. Especially for all these new large language models, the only way they can make any money is a subscription to access it but because there are now so many of them if you want anyone to care it has to be free. Investors are so gullible LMFAO 🤣
@@drabberfrog what's worse is that those subscriptions are already at a heavy discount. when the time comes to collect and the costs go waaay up, i want to see how many businesses will keep their AI stuff
Once it bursts💥⚡️
This vlog is so timely! The dot com bubble was internet 2.0 and those companies that survived are now worth Trillions of dollars. Blockchain or web3.0 bubble burst is about to happen and only those coins with utility and real value will survive and will become the new trillion dollars industry.
I'm surprised your thumbnail nailed the timing ... unless you updated the thumbnail to this year
He did
He did, so sly
This was a great video man im 36 and i grew up in the 90's i remember so much you just showed
"Party like 1999" was a saying that started in 1982 with a prince song..... I remember it was popular to say in the early 90;s. So the actual things that happened in 1999 have nothing to do with that saying
Yeah, it was about predictions of the world ending in the year 2000. Party like 1999, in other words, party like the world's about to end.
The capital that was needed for the European tech firms was instead put into the 3G licences (UMTS) which many large european nations sold for high expenses (and made 3G data very expensive in these countries (UK, France, Germany) and extremly cheap in countries that did not (Sweden))
I lived and lost in the 2000K bubble. He told it perfectly.
This pre-2K craze had also attracted scammers like Syncronys, which promised that their program SoftRAM would allow to store twice as much data in the (very expensive) RAM (which it didn't, it just enlarged the Windows swap file on the hard disk). The main aim of that company wasn't to make functional programs; it only wanted to attract enough buyers that their penny stocks would grow exponentially, then they would take the money and run. Only that they got intercepted by some PC tech magazines, that got suspicious when they noticed the rather unlikely feat that Syncronys claimed to have achieved, and started investigating.
Caya: Are you still watching this 21 minute long video?
Me: 21min? What the hell?
😇
What!?! It’s 21??? 😂😂
Seems like time just proved this video right last week
So Tesla is the Amazon, and all the other EV's and many legacy carmakers will go bankrupt.
Sounds about right
GM going bankrupt? They're more likely to shove Tesla back down.
@@brianbirnbaum9760 GM bankruptcy 2
Frustrating thing about the Y2k bug: It was identified as a major risk early and people sunk a *lot* of time and effort into preventing anything terrible from happening. They succeeded! And the mass reaction was "Oh nothing happened. Why were we ever even worried about that?". >_
Same thing with ozone layer and Montreal Protocol.
The millenium bug was very limited and affected very old systems only. It was used to fool people but it waa not done by IT peopl, it was made by people working on finance because they are greedy frustrates loosers.
In 2038 there could be a similar problem with unix/linux operaring systems, and could impact more systems.
Anyway, today we have millenial bugs everywhere on the planet.
@@gmail3804 Just like polio. It only affects one in 1000 children.
As a software guy, it was an opportunity to go into the code and clean up crap that shouldn't have been there in the first place. These days its called "technical debt".
And here we are several years later in a different big bubble.
Loki is out and I am here, on your channel, bing watching every video you have posted. That's amazing man. Your channel definitely deserve way more subscribers than it has already. Love the content, love the script, love the execution! Thanks for sharing ;) :D
Loki can wait 😉 Glad to have you here! Feel free to share our stuff so more people can enjoy it too.
This is a high quality video, well researched, made entertaining & interesting. No bait jargon. Well done man.
Just want to say thank you. I learned so much, and everything about this video was fantastic. Why can't we figure out how to create content like this to teach history in schools?
Thanks for the compliment!
Indeed learning with this type would be awesome... but it’s not so easy to produce. This video comes after some 3 years of trial and error creating RUclips content.
@@cayahere this video deserves millions of views. The massive number of work hours and accumulated experience was palpable. This led me to your channel, and I can't wait to watch more. Thx again!
I'm a teacher. Not much need to make video especially for schools. There is almost always some legend on the internet that has done a wonderful job. I just point learners to high quality and accurate videos that someone else made! One role of a teacher is to be a media curator and choose the best content for the job
Don't be scared. Times have change. And more money is in the market nowadays compared to back then. Dot coms was new and nowadays it's a part of the whole economy.
“Times have changed” this words have been said in every bubble before the brust.
@@holywarslim8780 jup. in the end nothing changes but people think it changed
@@osceerw3664 Nothing changed besides our entire lives being based on the internet... what you commented on, RUclips, owned by Google, you made Google money. I can't see internet based stocks being a bubble right now, because there is so much money being pumped into it by people globally. I can see crypto being a bubble though, it doesn't have much real uses right now except for making some people money. No one is going to the grocery store and paying through bitcoin.
@@durantburner7428 100% agree. Crypto is so similar to the .com bubble!
The n64 is a perfectly fine thing to care about
Thanks for making us re-live this important event. The production of this documentary is amazing too.
Thanks, Prince! Hoping to raise the bar to these videos from now on.
It's still funny to me hearing "the last century" and realizing 2 seconds later they're talking about the 1900's.
Irrespective of the economic issues we're having in our country.
Investing in these economic crisis will be one of the best thing to do...
Yeah. The rich spend less and invest more
Investing in these economic crisis will be one of the best thing to do
So much wisdom in those words but Bitcoin trading hasn't been quiet impressing for me..
The stock market is just different, moving to crypto will be a great to move.
I have been making a lot through BTC trading which has been the main source of my capital to invest real estate.
Susan.
I have been thinking in moving into crypto. Can you help me teach me crypto ?
3:19 In 1995/1996, most households were on 9.6 kbs, 14.4 kbs, or 28.8 kbs. Only people who bought the newest equipment or upgrades (and were willing to pay for it) had 56k modems in 1996. So the truth is actually far worse than the speeds in yellow.
This is like saying that "everyone" has 1-2 Gbs fiber today when actually it's a percentage of the population at the top that has those speeds.
2:41 56Kbps means Kilo bits per second, not Kilo Bytes per second. Bits are only 1/8th the size of a byte, which means it was actually 8x SLOWER than what you said in the video.
Back in 1999 my aunt demanded we all come out and be prepared to spend some time at her rural property because of Y2K. She had a well, food stock piled and ample wood for heating over winter. She was very worried the grid was going to collapse.
Fast forward 21 years... I'm the prepper. I just wish I could afford a property like that.
We don't see eye too eye on many things, but we can come together on having the skills, knowledge and frame of mind to take care of those we care about.
I snuck down to the basement while everyone was counting down to New Years on Y2k at the party I was at, and switched the power off when they got to 0.
U guys shud become really big RUclips channel. Ur vdo quality is amazing 🔥🔥🔥
Hope u reach the million mark soon
We hope we reach a million soon. Make sure to like and share 😉 💙
Going into 2023, and it's looking like the Dotcom + GFC combined
Let's hope we're ready to buy the right assets at the right time
High quality production
Thank you for making this
Awesome video. Finally, a proper breakdown of what the hell happened while we were too busy minding our own business 🤠
Glad you liked it!
Great video! Thanks!
What do you think is next? NFT, Crypto, DeFi, Housing or Tech Stocks?
1)gold
2)Bitcoin
3)who knows, market is too volatile
4)your bank account
Yes.
Amazing detailed video, I’m 35 and work in technology so I saw the times and my household go from a Pentium 1 to the internet and beyond!
Who remembers Lycos!
It would be interesting to see a video on the similarities of the dot com bubble and the current rise in crypto prices.
"Party like it's 1999" is a reference to the Prince song as he was imagining 1999 in the future in 1982. Nothing to do with the stock market in actual 1999
Thoughts on NFTs? Seems like they're building up into a bubble as well
Lyfe is a bubble