By Philip J. Kaplan
No longer some time past, the area was once awash with enterprise capital looking for the subsequent Yahoo! or Amazon.com. No product, no adventure, no know-how, no marketing strategy -- no challenge. you'll nonetheless get $40 million from traders to begin up your dot-com. and also you may get humans to paintings round the clock for inventory ideas and the promise of hundreds of thousands. Then, round April 2000, all of it got here crashing down.
Smart traders, esteemed analysts, and the enterprise press came upon themselves asking:
- Who knew humans would not rush out to exchange of their U.S. money for a digital foreign money referred to as Flooz?
- Who knew humans would not blow all their Flooz on a used vehicle from the fellows at iMotors.com?
- And who wanted a used vehicle from iMotors.com once they may perhaps simply take a seat at domestic and feature 40-lb. luggage of pet food brought to them by way of a sock puppet?
F'd Companies captures the waste, greed, and human stupidity of greater than a hundred dot-com businesses. Written in Philip J. Kaplan's well known, cynical variety, those profiles are jam-packed with colourful anecdotes, factoids, and knowledge unavailable at any place else. jointly they shape a gleeful encyclopedia of ways to not run a enterprise. additionally they seize a very striking interval of history.
F'd Companies is needed interpreting for everybody fascinated by the "new economic system" -- assuming your severance cost can disguise the fee.
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Additional resources for F'd Companies: Spectacular Dot-com Flameouts
The synergies are “overpowering” and the industry turns out splendid. URINALCAKES. COM coming quickly. FLOOZ. COM because the day they acquired investment, Flooz used to be my instance of ways humans could put money into the stupidest of principles, as long as it concerned the web. Flooz was once an alternate forex. the assumption is that folks might purchase FLOOZ, after which use FLOOZ to shop for stuff, instead of utilizing charge cards or money. however the factor used to be, you'll in simple terms spend your stupid-ass Flooz at engaging on-line retailers—all sixty-five of ’em or no matter what. whats up cease guffawing, it’s actual. traders driven $51. five million in 3 rounds down this crap gap. humorous factor was once, it appeared even Flooz itself couldn’t determine the way to justify their lifestyles. I suggest relatively, who on the earth could use it? the simplest resolution the corporate may perhaps get a hold of was once “procrastinating gift-givers. ” you recognize, it’s 10P. M. the evening prior to Christmas and also you forgot to get mother a present—I understand, e-mail her a few Flooz! (That sounds so soiled. ) I continually inspiration it might be a enjoyable, merciless funny story to shop for a chum a few Flooz as a present. It’s like, “It’s virtually funds, ’cept you can’t hardly ever use it at any place, and also you gotta act fast cuz this child is sinking speedy! ” I suggest, why belief the U. S. Treasury to again your funds while there’s FLOOZ! the corporate may move on and onabout their retail companions, yet their “partners” have been not anything greater than businesses that Flooz may well sweet-talk into including a friggin “Flooz” alternative lower than the “Visa” and “MasterCard” concepts. Flooz filed for bankruptcy 7 financial ruin defense on August 31, 2001. Their major competitor, the both silly Beenz. com, closed store an identical month. comfortable they folded ahead of the remainder of the area switched over all their foreign money to Beenz, Flooz, and Chuck E. Cheese online game tokens . . . funds Shot good it appeared Flooz was once helpful for no less than one thing—credit-card fraud. assets just about the corporate stated that thieves in Russia and the Philippines have been utilizing stolen credit-card numbers to load up on Flooz, nearly $300,000 worthy. See ExchangePath. com for extra on that . . . MR. switch Mister change . . . so this used to be a dumb concept . . . it used to be a swapping carrier, focusing on swapping tune, video clips, and games from consumer to person. Barter . . . Its undertaking was once to let “cashless” transactions. yet thank goodness communism used to be shunned. The evil plans of MrSwap. com to create a cashless society of the Beast devil 666 has been thwarted through the great white Christian males of the USA, praised be Jesus! Swappers paid $2. ninety nine for a cardboard mailer with $1. 21 postage on it. That was once the massive profit version. That brilliance is how MrSwap. com raised virtually $5 million investment. “The cause of this can be easy. the corporate was once not able to accomplish profitability sooner than our financing ran out,” it stated on their web site. good not less than they didn’t blame it on “market stipulations” . . . whether they have been communists. Here’s a bit trace for all you strength traders available in the market: If a marketing strategy contains the be aware “cashless” at any place in its textual content, don’t walk—run! 12:00 midday Pacific, July 30, 2001, it ended.