Business & Economy · 34 views
Why GameStop’s bid for eBay echoes one of the worst business deals of all time
By the start of 2000, I was already a veteran writer for Fortune warning our readers that the dot.com craze had lifted Nasdaq valuations to unsustainable highs. All of the time-honored metrics pointed to the same outcome—crash ahead!
Summary
By the start of 2000, I was already a veteran writer for Fortune warning our readers that the dot.com craze had lifted Nasdaq valuations to unsustainable highs. All of the time-honored metrics pointed to the same outcome—crash ahead! Then, AOL and Time Warner, Fortune ‘s parent as owner of magazine-maker Time Inc., issued a shocker for the ages that, as it turned out, confirmed my worst fears: The tiny internet hotshot, its brand barely a decade old, was purchasing the fabled media colossus multiple times its size.
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