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Did you know that Moody's and S&P had rated many dotcom companies as "pieces of crap", BEFORE the crash?
Anyone with half a brain KNEW there was garbage piling up in the NASDAQ, that had to be purged.
Bitcoin is a useful, legitimate, multi-function commodity with a solid foundation.
So I'm not really drawing the parallel to bitcoin here. Its not happening for me.
Nice try at neutering my post. Take a fistful of those, maybe you'll feel refreshed after.
Bitcoin is a useful legitimate commodity with a solid foundation.
Top 12 Reasons for dot-com failures:
1. Customer service meltdown: Neglecting service is always a license to lose customers. One Internet research firm that measured customer service at 79 online sites found 30% of customer service e-mails went unanswered.
2. Doing the same thing - Companies that do not make fundamental changes to their corporate goal, and objectives and simply operate according to business as usual, after they begin e-commerce, are going to put themselves in a bad situation when the changes that e-commerce creates begin to effect the company.
3. Inadequate order fulfillment: Too many companies still don't have stock on hand or readily available to meet customer orders — leaving customers in limbo or the lurch.
4. Use of primitive search and transaction tools: Many websites make consumers wait too long or take too many steps to find what they're looking for.
5. Failure to globalize: Many U.S. websites neglected potential customers in other countries. Market-research firm IDC says this is the year [2001] that international surfers will outspend U.S. online shoppers.
6. Building community, not clientele: Too many dot-coms have emphasized building a community instead of clientele.
7. Insufficient budgets: Memo to the accounting department: deploying a website is just the beginning of a company's e-commerce expenditures. Many companies underbudget their needs in website maintenance and marketing. Emerick says "As savings are realized and revenues generated, the Internet must have additional funding from these successes or it will fall behind waiting for the next budget cycle."
8. Channel conflict: Many companies leap into Internet sales without considering the impact on their channel partners, such as dealers or retailers. The resulting chill has set back many e-commerce initiatives.
9. HR problems - need a senior executive - if you want the "e" side of your business to have influence over the company's direction, you need to create a senior staff position for an executive that has authority and can do things corporately, internally and externally, on behalf of the people trying to develop the e-objectives
10. HR problems - compensation - if you start to have company executives bringing in money based on the e-commerce side of the business, you have to make sure you reward them with bonuses or increased pay in proportion to the $$$ they are creating in revenue.
11. Innovation - the intensity of the competitive environment and the continued developments in the technological environment require that a company constantly search for innovative ways to produce and dispense the product and deal with customers
12. Customers to Ambassadors - mass advertising turns people off - if they like your product, they will tell other people - this is desirable. If you can use internet structures and great customer service to turn customers into ambassadors of your product, you will be, in effect, increasing your sales force.
Again: WHAT DOES THIS HAVE TO DO WITH BITCOIN?
