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Rise And Fall Of The World Wide Web

1062 words - 5 pages

Before the World Wide Web was developed people used computers for things such as playing games, writing papers and financial accounting. But as time went on people began to wonder how the computer and its technology would develop in the near future. In 1989 a document was submitted to a management team by Tim Berners-Lee which was soon to create the World Wide Web. “Tim Berners-Lee was a software engineer at CERN and he understood the unrealized potential of millions of computers connected together through the internet” (World). After much research and work he created this proposal which included a specified set of technologies that would make the internet very useful and accessible to ...view middle of the document...

Investors responded to this great increase by investing in many companies and even invested in companies that were considered risky. They invested into these business practices with money and lots of it. The stock market rose with hundreds of companies being founded weekly. With the increase in revenue companies began engaging in excessive internal spending and executives and employees who were paid with stock options became instant millionaires. The money investors and others were gaining gave them the option to invest into more and more. It seemed as if the World Wide Web would only continue to grow and that the stocks would only get better but unfortunately that wasn’t the case.
Bubble Burst
In 1999 through 2000 the U.S. Federal Reserve increased interest rates and the economy began to lose speed. On March 10th 2000 NASDAQ index of leading technology shares spiked bursting the Dotcom bubble (Madslien). NASDAQ had lost more than ten percent from its peak. Internet companies weren’t doing so good and were not very profitable and some of the new companies had no intention of ever making a profit. Companies that were selling products and services on the web were not meeting sales expectations. All around the world financial markets trembled, became stable then trembled again. The stock market was driven by the rise of internet sites and the technology industry and many of these companies went under. This caused many investors to lose substantial sums of money helping to create a slight economic recession. Investors had invested so much thinking that the World Wide Web was only going to continue to get better and weren’t expecting such a thing to happen so when the bubble burst they lost so much. How were investors going to come back from something like this? Would things eventually get better?
Outcome
The bubble burst really affected investors and companies and caused a lot of drastic things to happen. Many companies were forced to file for bankruptcy due to the fact that they were unable to survive the financial burden that came with the bubble burst. Several companies were...

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