Throwback Thursday: Remembering the Last Big Tech Layoff Bloodbath, the Dot-Com Bust of 2000-2001 – SFist
As hundreds or even thousands of tech layoffs again become everyday news this week, we look back to the dot-bomb implosion of 22 years ago, when the Bay Area became a graveyard of f*cked companies.
In the mere first ten days of November, we’ve seen hundreds of layoffs at Lyft and Stripe, thousands of layoffs at Twitter, and more than 10,000 layoffs at Facebook/Meta. And if it hasn’t crossed your mind, a certain historic analogy has probably at least crossed your timeline: The SF Business Times is wondering “is the Bay Area headed toward another dot-com-scale meltdown?” The SF Standard notes, “wide-ranging layoffs have led to prognostications about a ‘dot-com 2.0’ bubble burst.” The Information has perhaps the cleverest wordplay of the bunch, in a conversation with the Secretary of the Treasury during that era Larry Summers, whom they say predicted “a level of pain he likened to the dot-com bust. ‘Peloton equals Pets.com,’ he said.”
But before we go off the ledge, it’s important…
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source: https://news.oneseocompany.com/2022/11/10/throwback-thursday-remembering-the-last-big-tech-layoff-bloodbath-the-dot-com-bust-of-2000-2001-sfist_2022111035518.html
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