How terrible is the burst of the bubble? Let the numbers tell the story—

NetEase went public at 17 yuan, dropped to 50 cents a year later~
Sina fell to $1.02, Sohu dropped to 60 cents, both down more than 95%~
Baidu's market value shrank from 270 billion to zero, $4 billion worth of equipment stuck and unsellable~
Cisco evaporated $400 billion in a single day~
Amazon dropped from 100 yuan to 6 yuan before stabilizing, a 94% decline~
90% of internet companies were delisted and disappeared~
But the cruelest part of the story isn't these numbers—
It's that the few who survived looked no different from those that died at the time~
NetEase fell to 50 cents, Duan Yongping bought the dip, waited five years, and returned a hundredfold~
Tencent sold 40% of its shares for $2 million because it was burning cash without profit—later, it was saved by the non-mainstream post-90s space~
Amazon fell 94%, Jeff Bezos endured the pressure and pushed through, finding the cloud computing path~
Those who entered during the downturn took all the chips of the next era~
Looking back at this round of AI:
Nvidia is the Cisco, computing infrastructure is fiber optics, AI applications are those money-burning ICPs...
Which will go to zero, which will become the next Amazon—no one knows now~
But one thing the history has already answered:
Bubbles don't destroy industries; they only eliminate companies that can't survive the winter without cash flow~
Winter is coming soon—do you have enough supplies in your pocket?
#互联网泡沫 #AI Bubble #美股 #Duan Yongping