The Nasdaq index was seen as a sign of things to come
On 10 March 2000, the Nasdaq index of leading technology shares spiked and consequently burst the Dotcom bubble.
Here is a selection of comments from BBC News website readers, who have been sending in their memories of that time:
I was a dotcom millionaire, about £6m actually. That was the paper value of my shares in an internet printing business that floated on AIM in 2000. The shares were almost worthless within a year, but we did manage to acquire and build a good telecoms business in the end. We even made some real, actual money - eventually.
Peter Henry, Banbury, UK
The last comment in the article is totally correct. "If broadband were around it would have worked". Simple fact is they invented the car before they invented the road!
Phill, Melbourne, Australia
Those were the days, and I remember them well. At that time I was working in California responsible for a "start up" company in the marine and coastal construction industry. Not much to do during the weekends other than to search around for other business opportunities. Then I stumbled into the mayhem of the dotcom boom... what a mess. Everyone running around like headless chickens and talking up a storm. This period in time helped me start something that still works for me today... that is, forget the talk, forget the fancy suits and concentrate on the people who do the actual work.
Nigel Griffiths, Bjarnum, Sweden
I lost 90% of my money and still have a lump in my throat when I think about it.
Adam, Kilmarnock, UK
This was a great period of extreme ignorance. I was working for a US technology company, and had thousands of stock options (paper money) for around $2 each. At the time, the stock was splitting and going up $10, $20 or even $30 a day sometimes! As this was happening, I thought I'd sink that money into my house as I prudently decided to make the assumption of the share price losing 50% by the time I needed the deposit. I was one of the fortunate ones selling at just over $220 a share.
Dave, Eastleigh, UK
Gosh, what were we thinking? I remember working in Silicon Valley at the time and going to between one and three dotcom launch parties a night. One was in the US version of Hamley's, and had caviar on one floor, roast beef on another, and cocktail shrimp on the third. We would buy into IPO stocks on launch and expect the values to go sky high the next day like some shuttle for take off. Most of all, I remember the cockiness and arrogance of people under 30 who thumbed their noses at the "old economy." I never got paid the high salaries, but was happy when it came down and wound up in an old school industry that ironically paid more. Hubris always leads to a fall.
Bruce, London, UK
There was this bad attitude running through the internet firms that the public would just get its collective credit card out and pay varying amounts per website just to look at them, and that simply was not true. The most amount of revenue a website can enjoy is advertising. Very few sites manage to charge for content.
David Ceptimous, Cardiff, UK
It was a remarkable time. I remember working at a start-up in Oxford that went from about 30 people to 2,500 in less than four years. There was a successful IPO and some people got rich, others got much better off than they were. They were heady days and the feeling was that things would get even better, but the shrewd sold up and got out in time. Personally I could see that it was not sustainable - there was more hype than substance, so I got out but have had to weather some very tough times since. I don't think I'll ever see times like those again in my lifetime. We had fun making history.
Chris, Sydney, Australia