The 1990s Dot Com Bubble is one of the most famous examples of a collective financial crash. Why did it happen? What can we learn from it?_x000D_ _x000D_ When a new type of product emerges, lots of companies and people make big money, right? Of course. Business booms but what goes up always comes down. It's called a bubble. Many analysts say that China is on the verge of a few bubbles. Are they right? Can we learn from past bubbles?_x000D_ _x000D_ The 1990's brought the internet into the homes of millions of people. For the first time, we could search for information of all sorts online including merchandise. Easy monetary policy by the Federal Reserve meant that borrowing money was cheap. All kinds of hair-brained online business schemes emerged. People who invested in them thought they were millionaires. _x000D_ _x000D_ Eventually, reality set in around the years 2000 and 2001. Many of these dot com start-ups had no prayer of ever making a profit. Companies burned through start-up capital and investors were left with stocks that went to zero. _x000D_ _x000D_ Let's take a deep look at why these companies went belly-up. The psychology of a bubble like the 1990's dot com one is fascinating to analyze. Let's do it together!_x000D_ _x000D_ 1990 年代的互联网泡沫是金融危机的最著名例子之一。为什么它会发生？我们可以从中学到什么？_x000D_ _x000D_ 当风口出现，很多公司都会赚大钱，但有涨总会有跌，这就是泡沫。许多分析人士表示，中国正处于泡沫的边缘。他们说得正确吗？我们可以从过去的经济泡沫中吸取教训吗？_x000D_ _x000D_ 1990 年代，互联网进入了数百万人的家中，我们第一次可以在网上搜索各种信息。美联储宽松的货币政策使得借钱很容易，各种脑洞大开的网上商业方案应运而生，投资者认为他们会成为百万富翁。_x000D_ _x000D_ 最终，现实给人重重一击，很多这些 .com 初创公司中都没有盈利，公司烧光了启动资金，投资者剩下的股票价格为零。_x000D_ _x000D_ 让我们深入了解这些公司倒闭的原因，对1990年代的互联网泡沫进行深入的研究分析。