In 2000, the dot-com bubble burst, and it's impossible to say that it had absolutely nothing to do with the "millennial bug."
The arrival of the "Millennium Bug" has impacted many internet companies, and the losses will only intensify.
At this point, Wujiang Group had already resolved the Millennium Bug problem at the fastest possible speed.
The Millennium Bug problem may seem simple, but it is not.
It's not something that can be easily fixed with a simple time adjustment.
Date issues affect all levels of the system, including hardware clocks, operating systems, system software, middleware, third-party software packages, and numerous user-developed applications. How do you find date-related items among thousands of programs? Which of the vast amounts of important data (including files and databases) are date-related? Where are they located? How can they be modified? Statistics show that 40%–98% of programs and 20%–85% of data files are affected by date issues.
A month later, Wujiang Group had essentially resolved all the Millennium Bug issues, including those of its clients.
Wujiang Group, which was the first to solve the millennium bug problem, has therefore received great media attention and consumer favor.
The HarmonyOS system, Hasee computers, iBook laptops, Pangu supercomputers, Fuxi databases, and Nuwa servers under the Wujiang Group became best-sellers for a time.
To the average consumer, the Millennium Bug is essentially a computer virus.
Other companies can't kill this virus, only Wujiang Group can, so when buying a computer, I would naturally choose a product from Wujiang Group.
...
Starting in February, major internet companies around the world began releasing their financial statements.
Good heavens! The data on the report completely baffled many investors!
The company's losses were far greater than expected.
Many companies are on the verge of bankruptcy.
The sudden outbreak of the Millennium Bug problem had already cooled down the already frenzied global internet, and now with the release of the appalling financial statements of major internet companies, the temperature has dropped to freezing point!
Of course, many people have already fallen into madness and are unable to extricate themselves.
The Nasdaq index has also been rising, and by the end of February, it had broken through 5,000 points.
country m.
"Isn't this bubble a bit too big? The Nasdaq index has already risen to 5,000 points! Which central bank can withstand a price-to-earnings ratio of over 200?" Federal Reserve Chairman Greenspan said with a worried expression.
His colleagues around him nodded in agreement.
Greenspan said, "We need to dampen investment enthusiasm by announcing a significant interest rate hike, back to pre-1995 levels. This would increase the cost of capital and make people more cautious when investing!"
As soon as he finished speaking, everyone echoed his sentiments and expressed their support.
The news was released very quickly.
Countless people have complained.
He spearheaded the interest rate cuts before the dot-com bubble, and now he's raising rates again. Damn it, if it weren't for his many past statements and policies that fueled the inflated valuations of internet companies, would the bubble be this severe now?
Success and failure both depend on Xiao He.
The Fed's interest rate hikes have caused market uncertainty to surge, just waiting for the moment to erupt.
March 20th.
The renowned financial magazine Barron's published a cover story titled "Burning Up," revealing the dire state of affairs currently facing these internet companies:
"Among the 200 internet companies surveyed, 85% were operating at a loss, and 60 companies were expected to run out of cash within 12 months. Many founders and early investors were doing everything they could to cash out. The funds flowing from the old economic system to the new economic system were about to be exhausted, and internet companies with no money to burn and no money to earn were about to fall from grace..."
The article, titled "Burning It All," became the final straw that broke the camel's back once it was published!
The stock prices of internet companies are in freefall.
Investors began a panic sell-off.
"Oh my God, the Nasdaq is collapsing! The stock prices of countless internet companies are plummeting! It's over, the dot-com bubble has burst!"
Howard exclaimed in terror, collapsing to the ground without realizing it.
At this point, Nasdaq was in chaos.
The entire stock market was gripped by panic.
Howard is just one of millions of stock market investors in the United States.
A week later, the Nasdaq index plummeted by 25%, and even dropped by 9% on March 29 alone.
...
In China, the bursting of the dot-com bubble had a similarly significant impact, with many domestic internet companies facing unprecedented crises.
Apart from the internet companies under the Wujiang Group, which had already made ample preparations, other internet companies were caught somewhat off guard.
The most frustrated at this time must be the internet companies that are about to be listed on NASDAQ in the United States.
However, with the bursting of the dot-com bubble, it is now impossible for them to raise funds through an IPO.
Lenovo's portal website, FM365, is doing quite well and can already be considered one of the "Four Small Portals" alongside Sina, Sohu, and NetEase. The largest portal website is Wujiang Portal.
However, FM365 seems to have had bad luck.
When we were preparing for the IPO, it just so happened that the internet industry was in a downturn.
Inside the chairman's office at Lenovo, Liu Chuanzhi looked dazed.
The FM365 website is running out of funds and is hoping to raise money through an IPO.
However, not only can they not go public now, but it is also very difficult for them to raise funds.
This chapter is not finished yet. Please click on the next page to continue reading the exciting content!
Continue read on readnovelmtl.com
