Now that all the successful fan-sites are crushed, and most of the ad banner conglomerates that hosted them have tumbled, the next level has begun.
PSInet, an emerging international ISP, has been delisted by NASDAQ due to stock values dropping like anvils out of airplanes. Most analysts consider this just a whistle stop on the bankruptcy express – and have little in the way of promise for the customers and corporate clients of PSINet. The debt amassed by this faltered ISP is considered to be so great, that no other ISP would be willing to touch it. Most likely, the hardware and various services will be diced and divided between telephone and cable companies.
I bet they sure wish they had that $150 million dollars back.
There’s a guy who lives next door to my dad who insists that the Apollo Moon Landing was filmed in a Hollywood studio and that Kennedy was shot by men working for the Vice President. He also thinks the Internet is just a fad. Once ISPs start filing for bankruptcy, you kinda have to reconsider that whole moon landing theory of his.