Young multimillionaires suddenly found that there was no amount of wealth that couldn't be outspent. Many had pledged stock in order to borrow money because they wanted to let the securities continue to grow. When the cash input flow dried up, their assets suddenly dropped by as much as 85 percent. The main factor that brought this about should serve a personal lesson to us all as we consider our careers. One fallen site sold pet food, ordered online and delivered to your door.
Every grocery store sells pet food, and people go there anyway.
One site was for getting your groceries for you, another was for cheap airline tickets, another for golf balls and another for books. Each had a specialty. And if we think that winning an award establishes us in a bomb-proof bunker, we should look around at what happens to award winners. Chrysler was Forbes' company of the year that same year. They kept on doing the same thing and refused to evolve.