The Dot-Com Chancers Who Burst The Bubble
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- Опубліковано 27 вер 2024
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The Internet Money Machine (1999): The young and adventurous have never had it so good, thanks to the soaring value of the late 90s tech industry - so why are some people predicting a downturn?
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In a small New York office, casually dressed twenty-somethings gamble thousands with the click of a mouse. On average these day traders keep their volatile shares for just 4½ minutes. It’s a world away from the sweaty hollering of Wall Streets’ New York Stock Exchange. In just one year, 25 year-old Nick Birbas has gone from waiter to laptop legend riding the bull market and earning $10,000 a week. So will the bubble burst? Like many other internet firms Globe.com have yet to turn a profit. In the clubs of Wall Street many believe stocks like theirs have been wildly over-valued. “Old timers like us wait for the day of reckoning,” smirks one analyst. But for now there really seems to be no end to this boom.
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ABC Australia - Ref 0627
Everyone's a genius in a Bull Market
mmmmmmmm nice i like that cause all my dumb friends in the market have it "figured out"
What's your 2021 ytd p/l %?
Another one of those catchy phrases that's taken off in the UA-cam comments. We've been in a bull market for 10 years. As such any progress that's been made this decade should be mocked by forever bears
and here we are again
You said it. The chest pounding remains. People get defensive as they will push you aside stating their profits, so they must know what they are doing. I learned my lesson. I say others wiped out to nothing, losing everything.
“With low inflation, low unemployment, low interest rates, strong cooperate earnings, I would be a certifiable lunatic if I said the market is going to crash!”
it did crash!!
The question is. Why interest rates was such at a low point at that time?
@@joaaomarcus it was and still is the FED
That today scares me to death inside,i have a stop los ready to cash all out and lemme tell you someday in the coming years it’s very plausible.
@@mohammedabdulmusawir4480 Get going with crypto's. It's the beginning of the internet for them.
If this wasn’t made in 1999, I would swear this is a parody! 🤣
Hahahaha , except the bears have been laughing every year for the past 10 years about how the markets going to crash tomorrow while the bulls are retiring with a decade worth of gains off the backs of google, amazon and Facebook..but yeah keep laughing
"This is a money machine, they're printing it like there's no tomorrow!"
This is a genuine look into the irrational exuberance of a peak before a crash.
Looks like what people says now .. before the bubble burst
Looks like what people says now .. before the bubble burst
Most of these names weren't trading stocks anymore after the crash. A few other documentaries aired at the end of 2000-2001 questing all the stock analysis that go on TV and gave buy ratings to junk companies. Those guys left that job and got into real estate shortly after.
Crazy seeing the WTC towers standing there.
Its actually crazy how much they dominated the skyline at the time. I mean, I knew they were tall but damn.
"I would be a certifiable lunatic if I said the market was going to crash" … along with the 'BOOM' clothing style and loud talk … classic … that's great
If you base your investment decisions on Richard Quest's opinions, you deserve every bit of punishment that you get.
Sura Mbaya 😂😂😂😂😂😂
Johnny Quest
Oooff
This has strong "history echos" in 2020. Inexperienced retail investors using tech in an irrational bull market.
😬
*Cough* nkla to name one
Pretty funny to see this guy driving around his Corvette believing he's a genius. He gambled in a casino where everyone won, for a time. I'd gamble that he lost everything when the market crashed.
Even a stopped clock is right twice a day. He of course takes credit for his luck which I would bet to say came to an end.
in a raging bull market of the 90's you can't lose.
r/wallstreetbets
@@exsxpx1 2020 is looking like a repeat
@@johnpersechini4951 And now the correction is in place.
"It's the gamblers job, sorry traders job" 😂😂
thanks God I did not watch this crap pre-crash
20+ years later and we're in the middle of the everything bubble. It'll make the dotcom bubble feel like a walk in the park. It will be ugly.
Who else is preparing for a stock market bubble in general?
6:00 good call, it went down to exactly 7000 and then up to 14k a couple of years later than he said it'd be 15k
Who else is preparing for the crypto bubble?
its coming thats why im watching this.
No1
crypto will put the pin to the bubble
Pop
@@woolybugger1962 not anymore ;)
I miss those years, I was in college in 1996 and made 400k$ on the 15th of October on a single options trade of 350 Contracts of Netscape.
You still gamble with options ?
@@JC-qq9sw *trade
5:46 wow. this is what some people are saying about bitcoin right now.
And look at it now, 40k. Sometimes markets just work in cycles, bitcoin is going to stay for quite a while, just buy it while its cheap. Investment firms and institutions have bought in.
This guy moved back in with his parents after the crash.
You'd be surprised. If you put 1000 into amazon in 1997 after their IPO you'd have more than 1m in your pocket today. It wasn't a slow rise after the crash either. They met their pre-bubble peak in stock price in less than 6 years. There was a lot of wreckage, but there was a lot of action after the crash too (obviously).
LoL
@@mgabrysSF I know your reply is three years old but I'm gonna reply anyway. The hardest part of owning a stock is not selling it. We don't have a crystal ball to see what it will be in ten years. When 5k turns into 10 or 20, very few will let it ride.
@@cory8080 There's a fun site that will compare what you paid for any apple tech vs buying their stock over the decades. It's quite depressing to know you deferred a million for an ipod purchase XD.
Guy at 00:09:00, pure GOLD.
From $3,000 to $500,000! That's easy in the markets but people tend to downplay stories like that. It's real life though.
theglobe.com dudes have the same attitude and style as the tech guys of today ... No logos nothing flashy mark zuckerburg style.. Somebody must be urging them to behave this way.
I think they were genuine tech innovators that got dragged down with the crash. They should've pinned to something that could convert to hard dollars rather than online advertising which sunk for a few years after the crash.
Super nice to watch now in 2021 before the next massive crash...
Yup its right around the corner... luckily I got in at the beginning
Yeah. Except you could have said that in 2009,2010, 2011 yada yada and will be saying it every year until eventually it's time for retirement
"Got the girl. Got the money. Now I'm ready to live a disgusting, frivolous life."- Paternot dancing on a table at a trendy Manhattan night club
Crypto is different thought. This time it's not a bubble, a cyber millionaire told me that a crypto millionaire told him.
Now it's the rush to fix scalability.
Crypto is a bubble because look at all the companies that have popped because of it. Crypto itself may be good long term but there is a lot of speculation in companies related to it.
Facebook was not even an idea at this point. This feels like ancient history but it was only 19 years ago.
No it feels like now, except it was 21 years ago
Lol, it's worse in 2016. If 1999 was irrational exuberance, this is pure madness in 2016.
2016? Those were the days. Now DOW is 20% higher.
2017? Those were the days. The rides starting to get pretty bumpy here in 2019. :)
It's 2020 and the super moron bubble is still raging.
@@FiatBurner As long fed keeps printing money the bubble will increase.
Annnnd... COVID-19
low inflation, low unemployment, low interest rate, strong corporate earnings.... does it sound similar to our current economy?
Yes....and they keep LYING by telling everybody: it's a correction!
exactly what I was thinking
Yes, but the bubble is not growing fast, is that good or bad?
@@kevinwu2040 I think that's disappointing today but will be glad for in the future
None of these guys are geniuses. I didn't know anything about stocks until the last 3 days and I can at least tell you that I know the typical responses to stock fluctuations and how to spot a bubble. Good luck, world. Buy low, sell high.
Buy high, sell higher thats the greedy works
journey back in time, wow
from the time you saw that dive at 18:17, you should of sold all your shit
This sounds like it was made today....
And then 9/11 happened. And the world was never the same.
And trillions of dollars suddenly missing, were just forgotten, and ignored!
Crash started before 9/11. 9/11 just accelerated it.
It looks like the "Lunatics" are really the smart ones.
We are here again with crypto. AWESOME! I can relive the 80's!
@ 6:19 Ed predicts the DJIA could correct to 7000 because it was overvalued as it neared 11K. In fact the DJIA Peaked at 11,750 on January 10th 2000, and did not bottom until 7197 around October 7th 2002. The market did not exceed the 2000 peak until May 2006.
And now you've lost it all but $600. You got greedy, Martin!
"Lehman Brothers posts record profits!"
5 seconds later
"I'd have to be a lunatic to say the market will crash!"
For those commenting about the guy that said "I would be a certifiable lunatic if I said the market is going to crash!" keep in mind this was filmed in 1999. Within two years the federal government will raise interest rates to a near 10 year high, which will make a lot of these unprofitable tech startups crash
coming back to this for the impending recession
The '2000 market top was just over six months away by that point, followed by one of the most arduous bear markets in recent memory. As always, when everybody thinks the market will be doing great, it won't.
Day trading back then would've been a gold mine.
19:48 this guy is a legend
8:40 "You've got to be a perverse to say the market is going to crash, it can correct, it can have a major correction, but with low inflation low unemployment low interest rates strong corporate earnings I would be a certifiable loonatic if I said the market was going to crash"
Ouch that did not age well :)
He means Nasdaq right? Dow went down 40% thought idk I would call that a crash anyway.
there's a big difference between a bubble in a specific sector and a systemic stock market crash. :P
you are a certified lunatic.
CRT monitor is in for day traders... what year is this?!! 1994?
dpyxl "The Internet Money Machine (1999): The young and adventurous have never had it so good, thanks to the soaring value of the late 90s tech industry - so why are some people predicting a downturn?"
10/10 dive just like the crash: 18:17
First time I see Richard Quest... Talkin' of a bad impression ! Wow !
The Globe.com defunct 2008
2020: Tech Bubble 2.0
Not a tech bubble but a bubble in ev stocks alternative energy and speculation and spacs and ipos. Every ipo is popping and fake companies skyrocket. Nio Li jumia fcel snowflake DoorDash etc
@@johnpersechini4951 aren't those all considered tech?
When will the bubble burst ?
@@gardayustisia4528 It's 2024 and the bubble is still going strong.
In fairness to a lot of these people, they weren't wrong. Yes the market crashed, but it also recovered and the world has never been the same. All these stock brokers job's have been replaced by computers. The entire industry is run by computers nowadays.
So much cocaine in this documentary
It's scary working for the dot com industry. If the stock went haywire? You lose your job. many lose their home/car/etc. I saw mansions in the bay area is totally empty. It's has been good 10 yrs, I still miss it nowadays.
That scene with Larry Wachtel at 19:48 is so great. Too bad that he lost trust in the Old Timers eventually and fell to the hype.
lol,i guess you could say now that the market will correct it self in a few months...a mayor correction is coming.. Stock are Ipoing once again with no product.
It’s happening again. Because of greed. Lots of money being made until the music stops.
the slow mo at 9:25 was just dirty i need a shower after that
Absolute slavery.... where does it get you...a whole load of stress and once you are earning you can’t stop until you lose it all...?
at 3:30 when she said they are bypassing brokers and trading directly off the markets is when I lay off this video :)
Dow Jones 15,000 by 2005, today's figure is...25,717.74
30.000 says hi
33,800
40,000
19:00 it was a bubble.
Once BTC and Crypto Crashes to powder we can have new documentaries. I think Michael Lewis should write the script with the director Aaron Sorkin. Inside a bubble its all greed, ego, and more. Not much clarity.
The globe went defunct in 2008
And now in 2020 they tell us again that technology will change everything
What song is playing at 15:00 with the sick guitar lead?
19:08 sounds familiar with crypto.....
scott friedman these days? clerks at wendys
Wheres Scott Friedman today?
Damn, should have bought gold in 1998
2021lol?
TheGlobe was offered as $9 and slightly more than year after this TV show it was worth 10c. Hahaha.
I wonder if the CEO sold their shares before the collapse.
I knew when i see those con men at the dinner table they just doin a classic pump and dump.
And those two dopes believed there own bullshit, naw i bet they sold
I just came cause my dad cracked a joke about this
20:00
Richard Quest
Bitcoin is at $51k
2:20 Bitcoin
Ah the pure arrogance of humans
Micheal milkin is baaaack! Junk bond king
19:48
Weird doco
I wonder what those TheGlobe.Com guys do now a days... even Oprah invited them to her show... LOL! And then site shut down... :-P
Tesla
12:00
Sounds like cryptos lol
My buddy created his own coin and now he’s got 3 millions worth usd lol I asked him what does it do
He said nothing lol it’s just a coin
WHAT IS WRONG WITH YOU???? POSTING 1999 VIDEO IN 2015 ??? NOTHING IS SAME THE TECH AND THE PROCESSES ARE COMPLETELY DIFFERENT ETC NEXT TIME TRY WITH 1554 VIDEO
Wot
WOW !,,,,, I'M SO COOL & SMART IN MY BLUE VET, THAT IT MAKES ME "SHIT IN MY PANTS", BUT IT'S OK, I HAVE OTHERS !
oh my god, this is exactly cryptocurrency lol
Yeah well were back to a bull market... I've made 5x so far
@@mattb6646 if you have made 5x so far, when will u sell
@@joro9960 Never sell! Go over the falls! LoL
The parables of this to today are eerie - except those amateurs are now the ones on their smart phones buying cryptocurrency. Tell me time stamp 10:15 doesn't sound like everyone invested now.
I love these cheesy old 'flash' documentaries 😅
I always thought it was obvious that guy at 9:04 was crazy.
The money shot 8:41
9:15
lol
I wonder what happened to those day traders....
I was really interested in Scott Friedman cause he seemed pretty logical about it all.
I mean I can't be the only one asking himself how many of those interviewed in the video invested in $ROPE some years after.
this is some really old bullshit,,,,,,,,,can it !
F me...sounds like 2020
And then the crash came!
13:30
In 2005 the Dow was 10,500. A long cry from 15,000.