DotBomb.com

Rule Number 7: just because you put it on the internet, it doesn’t mean it will be profitable. The internet is can be used in a variety of ways to help businesses. Therefore, so many creative people started coming out of nowhere to harness the potential of the world-wide web in new ways in the early 90’s. While some of these people went on to create websites that would forever change the way we do business, others not so much. A lot of the ideas that came up during this time were either largely flawed in some way or another, or only implanted the internet as an afterthought, rather than utilizing it as an integral part of their idea. Of course, there always has, and always be bad business ideas out there but what makes this era different is how un-picky investors were being. It doesn’t matter how ridiculous of an idea your business is, if you even mention the internet, people will invest. This reminds me a lot of the recent crypto currency boom. Bitcoin was a revolutionary new form of currency that was not produced by a country like traditional currency. After Bitcoin’s success everyone wanted a piece of the crypto-currency pie. As a result, hundreds of new crypto currencies were created in hopes they would be just as successful as Bitcoin. Some of these crypto-currencies were quite ridiculous, such as “Dogecoin”, a currency based off the meme about a dog from a few years back. Despite how crazy this fad is, it doesn’t stop people from investing in it. There are plenty of forums, and groups that dedicate their time to informing people what crypto-currencies you should and shouldn’t invest in to. There has also been people attempting to scam naïve people with fake get rich quick schemes based on crypto currencies, such as those behind “Bit-Connect.”