In 1999, ICMediaDirect.com opened the store as an online advertising agency, and we looked at our preferred status, the Internet, as an infinite possibility - there were no bubbles, no clouds on the horizon. In fact, business negotiations often included terms such as venture capital or IPO, and it did not matter who was speaking. We knew who hit what and when. As weekend golfers talk about the Masters, we dream of being the next eBay. Guys like me, well, general websites that talk about turkey, big turkey. And why not? Those were halcyon times at the time.
And they're back - out, ahem, this is different. I hope so. Nah, I'm sure about it.
Y2K was obviously a time of good development; we were swept away by the wave of hope. This online thing seems to last forever. The early 90s brought us the rise of connected technology development that introduced a new way of doing business.
Personal computer use was now available worldwide and easily accessible. The rapid advances in the digital media industry, the development of the size and breadth of network infrastructure, and the proliferation of large Internet and telecommunications companies have created the internet that we still see today. Offers go down, intellectuals get rich (or get rich), and about the magic of this internet - we believed.
There was a problem, however - the promise and the miracles alone could not fulfill an important point. The economic reality of chips and stocks traded publicly, the most successful of beginners already "successful", with their average of 100, 200, 300 low earnings. Therefore, that money, which had run very fast before the ideas and its operation, went back. And when the markets become sour, so does the feeling.
Money, as it often does, went beyond dreams; it had transcended logical boundaries of ideas. Rising stock prices and smart deals in unproven sectors have created a vicious bubble. It was a Web 1.0 boot, but at the time I thought it was a shopping opportunity.
It was in March 2000 that the technology market became operational. The actual technology, however, did not deteriorate, although a casual observer might assume that engineers will find new jobs. Well, some have, but still, science has not stopped. So, as money dries up, the power of the internet continues to grow.
And it has grown peacefully until the status of Web 2.0 has been recognized. Like the internet itself, Web 2.0 did not start with a switch, but instead became characterized by the gradual integration of profitable web applications, increased internet usage, and greater availability of high-speed connectivity.
I am not free to crown the Google king, or at least the more illustrated Web 2.0 examples. In fact, while the dot-com explosion was very dark, Google's boom times were just beginning.
More importantly, Google and their successful IPO are marking a new era of online marketing revenue. Sure, people may be talking nonsense, but they will be talking about GOO G having a lot of value, not a leaky boat in a storm. Google is profitable. Yahoo is profitable. Microsoft AdCenter is coming. Ask.com may be on the rise. These are big companies that are struggling to share in a profitable online environment.
Compare this with the early online growth, there was competition, intense competition for big money - but more than the unproven types of business that ended up being unprofitable. It's different now.
Web 2.0 has just started. There is a focus on making the internet a platform for end users. Debt settlement online is no longer a new phenomenon. Buying clothes and books online is a common occurrence. Mobile music playback components are designed in conjunction with downloading music online and not in-store purchased units. MySpace is more collaborative with pen and pen than anything we could have predicted two years ago. Even a Voice over Internet protocol (VoIP) phone saves phone customers money.
These are old dreams that smoked five years and six years ago. We are just getting started.
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