Will the Internet Market Fail, Too?
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The tech sector, especially the Internet-related part, has always seemed special. Then reality set in in 2001 when the tech bubble burst. Now we're in the midst of another economic crisis. Did we learn any lessons from last time? Could the Internet market fail?
Crash! The Dow Jones drops more points, the news media reports that everything in the financial world is going to hell and politicians scramble to provide solutions (or, at least, vote-getting talking points). Middle-income families can’t buy new houses or keep the ones they’ve got, health care is more expensive than ever and let’s not even start talking about soaring gas prices and increasing costs of living.
The world is in the grips of a financial crisis, and Wall Street is seriously struggling. But enough about the real world. Are the shock waves of all this mess strong enough to ripple through cyberspace as well? Could the current economic crisis affect online revenues?
Will the Internet market fail, too?
Economic Crisis
This is a pretty fair question. In many ways, when Wall Street fails, we all fail. Properties and investments are losing value. Banks could easily suffer, go out of business, bite the dust. The stock market is trickier and more dangerous than ever. People are scared.
They’ve got good reason. Average families (meaning those who don’t pull in more than a quarter-million bucks annually) are having trouble buying food, keeping gas in their vehicles, finding jobs and even paying mortgages.
Perhaps most frightening of all, that’s the short-term picture. In the long term, people have to worry that perhaps Social Security will disappear, health care will no longer be viable for many businesses and obtaining a mortgage will soon be harder than getting a star on the Hollywood Walk of Fame.
For many, Wall Street is so far away it almost seems like an imaginary world. Yet this simple street holds the globe in a death grip, an economic crush felt ‘round the world. Could the already far-flung affects stretch even further, sneaking into the virtual world?
Will the Internet market fail, too?
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