A controller at theglobe.com watched the site rise from $8 to $88 per share on its first day in November 1998, hailed as the Facebook before Facebook. The pressure to monetize massive traffic and meet analyst expectations drove the company toward collapse during the dot-com crash.
Chapters
In between Amazon and Deloitte, there were 3 startups that were complete failures. And so there were like, I got 3 MBAs, like, and I'm getting paid for all this education, which is fantastic. But it was also, and a couple of these were high profile. There was a company that, again, I'm going to be dating myself, but there was a company that actually had the biggest one-day trading gain in IPO history at the time in November of '98, a company called theglobe.com. It was the Facebook before it was Facebook. And, you It was one of the top internet properties, top 10 in the world at the time. And they, they went from like $8 to $88 in their first day of trading. But those were that internet 1.0 hype period, right? So that was one of my first true startups where they needed a controller to manage the e-commerce arm to monetize all the eyeballs. That's what the analysts were pushing them to do.