dot.com boom and bust

The dot.com boom and bust began in the early 1990's due to the increase in usage of the internet for commercial purposes. As more and more companies began creating websites and using the internet to aid in grown their platform people began to understand the internet more. HTTP was then created and this further aided the growth of online businesses. More and more people began understanding how computers and the internet worked and they just couldn't get enough. As a natural reaction of the internet exploding and becoming more widely used, investors began to fund websites and companies who were on the internet so they can claim to be "one of the first companies on the internet". Suddenly, around 2001, the dot.com bubble burst and stock prices of the dot.com companies began to plummet. Companies were forced to owe the invested funds back to the initial investors and the online market was struggling in a massive way. It is likely that the dot.com boom may have just been too advanced for its time and people were unsure of the drastic change. Consumers did not want to purchase items online and thought it would have been too risky. However, we have come a long way since then.