In the late 1990’s there was a frenzy of speculative investment in internet related shares.  Investors believed that anything that would take advantage of this new technology was certain to make loads of money for them.  As long as the entrepreneurs predicted to make large profits quickly, venture capitalists were prepared to throw money at it.

Dotcom millionaires were made overnight.  Unfortunately it was soon realised that many of these firms were burning through cash with no prospect of ever making a profit.  Only the robust Dotcom business survived, stockmarkets plunged and the nasdaq fell by over 70% between 1999 and 2002.  Investors, both private and institutional, lost substantial amounts of money.