Many see irrational exuberance in all this. It's market rationality of the clearest nature. Which is why the tone in the Hamptons has changed so dramatically. In the early, dreamy stage of new technology, anything is possible. If you're quick, you might even profit from the dream.
Investors rush to dot-oms.
Then flame out. Just a few months ago, everyone on the train was talking about two or three friends who jumped over to new dot-com ventures and were already rich on paper. It's almost like the '80s, when many of their parents were laid off. That was back in the Old Economy, not the New One. The McGraw-Hill Companies Inc. All rights reserved.