Dot Com to Dot Bomb

In the early 1990's, businesses ranging from large corporations, local mom and pop stores, and even a slew of individuals forming startup companies began to realize the potentiality of the internet. At this period in history, the internet was no longer seen a novelty for the technologically inclined but now as a powerful force for advertising and application. This led to a high demand for web development which consequently resulted in creating a lot of jobs for people to develop these sites.These developers, who either started their own development companies or worked directly for these businesses,  were making money hand over fist. From the point of view from corporations and local business this was a worthwhile investment so long as their website was well constructed and their developers were able to be paid. unfortunately, the cost of maintaining such sites and keeping their developers employed increased to such a level that the larger companies had to start laying off their employees (their web developers in particular) and the smaller companies just went bankrupt. furthermore, stocks from these .com businesses were hyper inflated which resulted in an ungodly amount of money being lost during the crash.