- The book "Devil Take the Hindmost" was read in the fall of 1999, which led to a comparison between the South Sea bubble of 1720 and the tech bubble at the time, as people were making similar reckless investment decisions 10s.
- The South Sea bubble in 1720 was characterized by people quitting their jobs to trade shares of the South Sea Company in alehouses, mirroring the behavior of those investing in the tech bubble 10s.
- A memo called "bubble.com" was written to highlight the similarities between the two bubbles and to point out the folly of investing in companies with no profits, revenues, or even products, but just ideas 42s.
- The memo aimed to illustrate that companies with no tangible value were being highly valued, which is a key indicator of a bubble, and this was evident in the tech bubble at the time 2m6s.
YouTube video summary
How Howard Marks Predicted the $5 Trillion Dot-Com Crash
Finance
17 May 20261 min summaryFrom My First Million
My First Million
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