And in fact, companies were beginning to go bankrupt. Companies such as Value America. To stop and think about it, we actually kept that table up to date for nearly 2 years. Everyone knows the tale by now. Poor business plans which focused on customer acquistion at all costs.
Bankruptcy is the end result.
To make matters worse, the stock market collapses, making venture capital and access to capital markets all but impossible to get. For fun, let's run through a few companies on that IPO list. It's hanging on to life at 2, down from 29. What about the other end. Divine Inc. The stock is trading at 1.51, down from 12.43.