In the first quarter of 2000, many Internet companies suffered large losses, and investors' confidence was suppressed, and they began to reflect on Internet companies and their own investment in the Internet. When the fact that Internet companies continue to lose money once they form a strong bearish expectation, and the outrageous stock price stops rising and falling, there will immediately be a downward feedback oscillation, resulting in a "crash" of the stock market.

Xiao Wanting asked a little unconvinced, "The Nasdaq Composite Stock Price Index fell sharply in March 2000 until May 2000, but now it has begun to stabilize and stabilize. ”

Zhao Hong said with a smile: "This is to dispel people's worries about the prospects of the US economy, and this is what some market manipulators are luring us to do more! And the NASDAQ stock market, which was originally in the midst of a storm, will fall for a long time and even more, and in the future it will fall to the point where countless investors will lose their wealth and lose all their money." ”

Guo Yi also hurriedly said, "When the NASDAQ dot-com bubble burst, Zhao Hong recommended a new book to me, Yale University professor Robert Shearer's "Irrational Boom", and I also believed that the rise in stock prices was a speculative bubble, and in essence, the NASDAQ dot-com bubble was an irrational boom. Only another irrational decline will bottom. ”

Xiao Wanting also felt a little chilled, she asked with some hesitation, "Then ...... after the Internet bubble bursts?"

With some smiles, Zhao Hong said, "The impact of the bursting of the dot-com bubble is very significant, the myth of the new economy of country M has been shattered, the economy of country M and the world has entered a recession, countless companies have gone bankrupt, and the Internet industry has entered a cold winter; individual investors have suffered heavy losses, and it will be a long time to recover." ”

Zhao Hong knew in his heart that in 2000, especially after the stock market accelerated under the influence of the 9/11 incident, the economy of country M entered a recession, and the economic growth became slow that year, the unemployment rate rose, and the myth of the new economy was shattered. Due to the position of the economy of country M in the global economy, the weakening of the economy of country M has led the global economy into recession.

Before the stock market bubble burst, the real economy itself had accumulated a large number of problems and contradictions, which were prominently manifested in the advance of investment, insufficient market demand, and the decline in the economic efficiency of enterprises. The bursting of the dot-com bubble has halted the follow-up investment of enterprises, broken the capital chain of enterprises, and the lack of funds available for cultivating the market and follow-up investment, which has reinforced this situation. (When is it similar to the domestic one?)

In hindsight, the flood of the dot-com bubble is directly related to the overly optimistic judgment of corporate shareholders, professional managers and technical elites in the industry on the demand for the Internet market, and the decisions made on this basis. It should be affirmed that the occurrence of the Internet revolution is itself the result of market demand. But the industry has misjudged the true size of this market – spot purchasing power. They have introduced too much wishful thinking into their analysis of real purchasing power. A wishful thinking is that something important will have a huge market size in the first place. This is not the case. The Internet is really important, and its end market size is certainly huge. But it also requires a process of growth and development. Another wishful thinking is that as soon as high-tech products and services are launched, customers will be overflowing, increasing revenue and making money. (Like a domestic real estate?)

At the same time, due to the overinvestment of enterprises under the misjudgment of the market during the period of bubble inflation, the bursting of the bubble led to idle assets, heavy debts, and a sharp decline in efficiency. A typical example is network construction. According to statistics, in 1999, the amount of money invested by country M in the network reached more than $100 billion, more than the sum of the previous 15 years. Under the pressure of heavy debts and costs caused by huge investments, enterprises that had good performance incurred losses or even huge losses, and enterprises that were originally able to operate normally were unable to pay their debts and did not operate well, so they had to go bankrupt and collapse. (Like a real estate company)

For investors, the bursting of the dot-com bubble is a lingering nightmare. Many people entered the stock market with all their belongings, and some even went into debt to invest, and the bursting of the stock market bubble caused them to suffer a huge blow to the economy. (Like an investor who buys a house?)

Xiao Wanting asked again, "But some companies' new products are really excellent, why can't they occupy the market and achieve huge development?"

Guo Yi was quick to answer this question, "Those companies are overly optimistic about how quickly the market will accept the innovation of the Internet. This is the most dramatic mistake investors make, and overly optimistic estimates have led venture capitalists and ordinary investors to accelerate their investment in the Internet and increase their investment horizons. As a result, excessive investment led to the formation and bursting of bubbles. In fact, it takes time for people to embrace the innovation of the Internet and integrate it into the way they do things, and things don't change overnight. There are also technical reasons, they all feel a little untimely!

Everyone is a little silent, not because they don't study hard, but because the world is changing too fast! If you fall behind, you will be beaten, and if you are too advanced, you will not have a good life! Follow closely is the best state!

Guo Yi asked a little strangely, "Since there are so many problems in high technology, why did you let me participate in so many network high-tech projects in China?"

Zhao Hong smiled, Xiao Wanting also smiled, after all, this time it is M's network company bubble, but it does not mean that the domestic Internet company that has just begun to develop is also a bubble, after all, such a small market value, and how big the corresponding domestic market is, and how fast the growth rate is, it is just the beginning.

After all, Xiao Wanting has been investing in Internet companies for many years, and has also participated in the management of some companies and witnessed their growth. So she explained to Guo Yi, "What is the key to a network high-tech company, not profitability, not the number of employees, but the position in the market segment in which it is located." Obviously, at this time, the domestic network market is still in its embryonic state, even if the market value of large network companies is not much, and they are all the first generation of pioneers, of course, they are the first, and compared with the scale of the domestic market, the future development space is still very large. Even if there is a bubble, it will be digested in the future with rapid development. ”

Zhao Hong also went on to explain, "In 1999, there were only about 6 million Internet users in China. This year, with the decline in computer prices and the acceleration of network bandwidth, the number of individual users will increase a lot, and the tariffs of Internet cafes will be lowered, and the number of Internet users will expand rapidly. And the government is still very supportive, and the number of Internet users will at least triple this year, and the pace is still accelerating, but the percentage of the total population is still very low. For the world's most populous country, it is still very small. Country M is different. The bubble burst, and Internet companies in China and even around the world entered the winter. But high-tech is still high-tech, and it is still the direction of future development!"

Xiao Wanting and Guo Yi's eyes lit up instantly, "Are you saying that the opportunities in the future are still here in high-tech companies?

When they spoke, both of them were a little unusually excited and very happy. Guo Yi holds a lot of shares in domestic network high-tech companies, which are basically original investments, and Xiao Wanting also has a lot of cash in her hands, looking at the falling stock market, she also knows that it means a lot of profits!

The rest of the topics discussed by a family of three began to enter the garbage time, Guo Yi talked about the unconventional development of the physical production and manufacturing sector with some ostentatiousness, and made great strides, while Xiao Wanting was a little conspicuous about the investment and development of trading companies and circulation, with the bad economic situation, people in country M are also more careful about their expenses, the reduction of jobs, and the high unemployment rate have begun to make many people begin to realize that the future may have to live a few years of tight life......

The three of them talked about their work for nearly two hours, and then they began to talk about the children's future plans with great interest. Guo Yi hopes that Jack can establish his own enterprise group in the future and have a business of his own!

And Xiao Wanting is also full of hope for the sea, she hopes that the sea can become a university teacher like the child's uncle and choose her favorite life mode.

The two of them invariably chose a laissez-faire development model for their daughters, as long as they are willing, feel happy, and it is not an obvious wrong thing, they will not care, according to them, "Girls should enjoy the happiness of life like this, simple and happy, physical and mental health is the best, the most important!"

When she was talking about happiness, Guo Yi seemed to be a little uncomfortable, and her face suddenly became a little unsightly, she quickly got up and went to the bathroom, and after a while, she heard the sound of vomiting.

Xiao Wanting and Zhao Hong were also surprised for a while, because she still ate very fragrant dinner today, especially like meat dishes, and seemed to have eaten more bowls of porridge than usual. But then they reacted......

Zhao Hong has been in country M for half a month, commuting to and from work on time every day, and has begun to completely replace Guo Yi to handle the full service business of the Asia-Pacific branch of Zhao Song Group, while the business in Europe is temporarily in charge of Xiao Wanting, after all, the investment business of the original M branch has almost completely stopped, and only the national bond investment of country M remains.

And the outside world has been in a depression, as if back to the 29 years of economic crisis, many companies in the market began to declare bankruptcy liquidation, and the unemployed began to gradually spread, not only high-tech industries, many ordinary production industries have also begun the saddest period, products are unsalable, companies lose money, enterprise workers are unemployed......

The hellish scene even began to affect social order. Even Guo Yi, who was staying at home, felt the impact, and she said to Zhao Hong, "Is this hell?

Zhao Hong looked at the date on the calendar and it was already June, and he also muttered to himself in his heart, "There are still eighteen floors of hell!"