What happened to Australian startups during the dot-com crash?
What people actually said, drawn from the approved Australian startup history archive. These are attributed transcript passages, not independently verified facts.
“As the end of the millennium approached, Millennium approached, the excitement surrounding the internet was reaching a fever pitch. In the US, between 1995 and the peak of the dot-com boom in March 2000, the NASDAQ stock market index rose 400%, with investors scrambling to invest in any dot-com company. And with so much cash pouring into the tech sector, many startups were running at a huge loss, spending heavily on advertising and promotions, and prioritising growth over profitability, startup founders once obscure were becoming celebrities, and the future of startups was looking bigger and brighter than ever before. On the next episode of the History of the Australian Startup Ecosystem, the bubble bursts.”
Speaker label produced by automated transcription and not yet confirmed by the speaker.
“For many years after the dot-com crash, economic conditions for Australian tech startups were very difficult.”
Speaker label produced by automated transcription and not yet confirmed by the speaker.
“We learned firsthand what a stock market crash can do to the owners of a business that are fairly highly leveraged.”
Speaker label produced by automated transcription and not yet confirmed by the speaker.
These are attributed transcript passages, not independently verified facts.
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