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      "body": "Today everything is about crypto etc., but just for entertainment it is interesting to look back at some big flops of \"dot com\" time. So here they are.\n\n**1)Pets.com**\n![pets_puppet.gi.jpg](https://steemitimages.com/DQmVrfz2CunDtzceJj9aGone7a7DJmkBZqcexDE38uzwyyq/pets_puppet.gi.jpg)\nPets.com's business model wasn't sustainable. The company lost $147 million in the first nine months of 2000, and the company was unable to secure more cash from investors. When Pets.com went public in February 2000, its stock started at $11 a share and rose to a high of $14. But the rally was shortlived and Pets.com's stock quickly fell below $1 and stayed there until its demise.\n\n**2)Webvan.com**\n![webvan.jpg](https://steemitimages.com/DQmR3CytrP16dagdBQ9M8DTw9wsGFi459NtuaF54LsJF3Wp/webvan.jpg)\nPets.com is the dot.com bust's most famous flop, Webvan grocery delivery service was its biggest. At its November 1999 IPO, Webvan raised $375 million, shares traded at around $30 and the company was valued at $1.2 billion. But that was its peak.\n\nInvestors soon realized that the company's customer base and margins weren't large enough to support all of the planned expansions. \n\nBy the time the company announced it would close up shop in July 2001, Webvan's stock fell to just 6 cents a share. Webvan laid off 2,000 employees when it failed.\n\n**3)eToys.com**\n![etoys.jpg](https://steemitimages.com/DQmfZaQ9cbkDk3ZdFzGFAWizKiqdcX4fYZ4XwXkwxcSb7pr/etoys.jpg)\nWhen eToys.com shares hit a high of $84.35 in October 1999, who could have guessed that just 16 months later, the company would warn investors that its stock was \"worthless?\"\n\nThe online toy retailer was founded in 1997 and quickly became one of the most visited Web sites for holiday shopping. It spent tens of millions of dollars on marketing campaigns and partnerships as it jockeyed for position with other retailers like Toysrus.com, Amazon.com and Walmart.com. But eToys just couldn't keep up.\n\nAfter reporting a $74.5 million loss in the last quarter of 2000, the company said it had just enough cash to last until March 31, but after that it would require \"an additional, substantial capital infusion.\"\n\nIt never found a white knight. Citing debt of $247 million, eToys said in February 2001 it had no alternative but to file for bankruptcy. \n\nThe site was bought out of bankruptcy by KB Toys, which later filed for bankruptcy itself. But eToys.com lives on, hoping the third time's a charm.\n\n**4)GeoCities**\n![geocities.jpg](https://steemitimages.com/DQmTQsh5rpggiHZYkgKE9NQcTqK1Qxt4mHBajthwDXvqsvC/geocities.jpg)\nNot all of the dot.com busts disappeared right away. In fact, GeoCities lasted until last October.\n\nThe Web hosting service gave many Internet users their first Web sites. With 19 million unique visitors per month, GeoCities was the third-most visited site on the Web behind AOL and Yahoo in 1998. \n\nWhen Yahoo bought GeoCities for $3.6 billion in January 1999, it was widely considered a coup. At the point of sale, Yahoo traded at $368 and GeoCities shares sold at $117. \n\nAh, how times change. Facebook, MySpace and blogspot became the social networking choice du jour, and GeoCities fell out of favor with users. \n\nYahoo closed down GeoCities on Oct. 26. Many believe GeoCities and its millions of users represented a missed oportunity for Yahoo to evolve the service into a more modern social network.\n\n**5)theGlobe.com**\n![the_globe.jpg](https://steemitimages.com/DQmfNuHz7LDsHAbMn7cfoe837c3Na2gDgt6uYZtir1gRxVk/the_globe.jpg)\nTheGlobe.com isn't remembered for becoming one of the first social media sites way back in 1995 as much as it's remembered for its record-setting initial public offering.\n\nWhen theGlobe.com went public on November 13, 1998, its stock jumped a then-record 600% in its first day of trading. The company set the offer price at $9 a share, but the stock opened at $87. Shares of theGlobe.com rose to a high of $97 during its first day of trading before closing at $63.50.\n\nThe company raised $27.9 million in its IPO, and its market cap was valued at $842 million. But less than two years later, in August 2001, theGlobe.com's stock was delisted by the Nasdaq stock exchange for failing to stay above $1 per share.\n\nFounded by 20 year-old Cornell students Todd Krizelman and Stephan Paternot, theGlobe.com was revolutionary for its day. The site allowed users to create and post their own Web pages. \n\nThe company stopped its Web hosting business in 2001 but its online gaming sites stayed popular. TheGlobe.com was ultimately unable to sustain itself, and the company finally closed up shop for good in March 2007.\n\n\n*Original source: http://money.cnn.com/galleries/2010/technology/1003/gallery.dot_com_busts*",
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      "author": "forestchris",
      "body": "@avilsd Do you think that any of new crypto projects could be the next Alphabay?",
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      "author": "forestchris",
      "body": "Hi, my name is  Chris and I am 30 years old man from Latvia (One of Baltic states that was part of Soviet Union). And before I continue with my story with sudden interest in crypto world, I would like to clarify that in no way I think that cryptocurrencies are scam (at least not all, there are som s#it coins for sure) or that crypto community consists of weirdos . And English is not my native language.\nI wanted to start writing, more as archive to my future self and also because most people that I talk to are totally unaware  of cryptocurrencies and blockchain. Well my girlfriend kind of tries to understand when I tell her about newest article or youtube video that I have seen, but not to full extent and definitely she does not see the great disrupting power that this technology will bring to a lot of industries. \nI have some friends that work in financial industry and when asked of an opinion regarding crypto, the answer I mostly get is \"Better don`t  try, it seems very risky!\".  I spoke to parents about investing in crypto, but they basically think that all of this is some ponzy scheme and I will loose all my money. Could sum up in one picture:\n![DFWsDiEXoAIzEzC.jpg](https://steemitimages.com/DQmNv8CSsojBPNPyu9Bz4LUS3gYNMvghwnSCqfNsD9u81YN/DFWsDiEXoAIzEzC.jpg)\nHow much I plan to invest in crypto? I have saved up for a new car (not brand new, but better one that I have now), but during last two weeks I have read all I can come across on blockchain and decided to keep my old car and invest that money in crypto, at least part and looking at how things go, maybe more. \nSo how I have allocated my portfolio?\n35% Bitcoin\n25% Litecoin\n10% Antshares (NEO)\n30% Safe Exchange coin \n\nIf someone reads this post, please comment what are your long term picks on cryptocurrencies and why.\n\nPIC of my shitty car, that I guess will be with me for a while:\n![Inkedvolkswagen-golf-4-14930337.800_LI.jpg](https://steemitimages.com/DQmS9Vh1AhqukLDFjB916yrmLHEyuHWDM3fhXUGqXnZ3X4o/Inkedvolkswagen-golf-4-14930337.800_LI.jpg)",
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      "author": "petrvl",
      "body": "sure my mum do not fully understand deflation economy, but many great economists do not have clue what is going on right now in crypto world :)",
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      "author": "forestchris",
      "body": "respect to your mum :)\nIt took like 2 hours to explain very basics of bitcoin to my parents, pretty convinced that they still think  bitcoin is ponzi scheme :D",
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      "body": "not true, my mum using bitcoins ;)",
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      "body": "I look at all this bloodbath  in crypto world and cant be more happy as I see this as great opportunity for newbie like me to get in crypto world with GREAT discount on everything!\nAs this one dude said: Fearful when others are greedy and greedy when others are fearful.",
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