67% of struggling dot-commers blamed the greed of the entrepeneurs whilst 56% blamed inadequate or ill-conceived business plans. Youthful inexperience was blamed by 38%. 26% of Americans who are aware of the downturn in the dot-com economy worry that it will have a major impact on the U.S. economy whilst 61% consider it only a minor concern.
“Americans are saying that greed and haste made waste among dot-com investors,” says John Horrigan, author of the report. “The desire to chase a huge windfall overshadowed clear thinking about how Internet companies would actually make money. But even if speculation got the better of a lot of Internet investors, Americans do not see the dot-com shakeout affecting the entire economy very much.”
