IN DEBT WE TRUST

The dot-com bubble burst in the early 2000s. Basically, the internet’s first “oopsie.”

✓ TRUE FACT
The Nasdaq Composite peaked around 5,048 on March 10, 2000, then fell to roughly ~1,140 by October 2002, a drop of about ~77%. The crash wiped out many internet startups and sharply reduced IPO activity for years.

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The first “market correction” was actually an apology letter from the market. It said “my bad,” then did it again.The first budgeting spreadsheet had one cell: “no.” It was still ignored.The first bank statement was just a list of regrets. Formatting has improved, content hasn’t.The first portfolio was literally a folder. It contained receipts and emotional damage.“Burn rate” was coined after a startup burned dinner and the budget simultaneously. Efficiency was not invited.The first stock split was done because someone wanted to feel richer without actually being richer. Iconic.See all In Debt We Trust facts →

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The dot-com bubble burst in the early 2000s. Basically, the internet’s first “oopsie.” | SmartAss Facts