--- title: "Meaning & Key Takeaway of: It was 1999, and we were building a way…" description: "\"It was 1999, and we were building a way for college kids to create online profiles for the purpose of sharing... with employers. Oops. I vividly rememb..." image: "https://sms4smile.com/quotes/i/bf7/eric-ries-2911_bubble_it-was-1999-and-we-were-building-a-way-f_150946.png" --- # It was 1999, and we were building a way for college kids… ![“It was 1999, and we were building a way for college kids to create online profiles for the purpose of sharing... with employers. Oops. I vividly remember the moment I realized my company was going to fail. My co-founder and I were at our wits' end. By 2001, the dot-com bubble had burst, and we had…” quote by Eric Ries](https://sms4smile.com/quotes/i/bf7/eric-ries-2911_bubble_it-was-1999-and-we-were-building-a-way-f_150946.png) [Download](https://sms4smile.com/quotes/i/bf7/eric-ries-2911_bubble_it-was-1999-and-we-were-building-a-way-f_150946.png) [Open image](https://sms4smile.com/quotes/i/bf7/eric-ries-2911_bubble_it-was-1999-and-we-were-building-a-way-f_150946.png) > “It was 1999, and we were building a way for college kids to create online profiles for the purpose of sharing... with employers. Oops. I vividly remember the moment I realized my company was going to fail. My co-founder and I were at our wits' end. By 2001, the dot-com bubble had burst, and we had spent all our money.” [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Startups often face inevitable failure; recognizing limits early can prevent wasted resources and guide pivots. **In simple terms:** Failure is common; learn early. Key Takeaway Identify warning signs and adapt quickly. Themes entrepreneurship risk pivot Mood cautious realistic Type practical motivational When to use this quote - startup launch - fundraising - product development Key Concepts resource management market fit Questions to Reflect On - What indicators suggest a pivot is needed? - How can you test assumptions faster? A Different Perspective Over‑optimism can blind founders to reality. ★ ★ ★ ★ ★ No ratings yet [Bubble](https://sms4smile.com/quotes/about/bubble/) [Bubble Burst](https://sms4smile.com/quotes/about/bubble-burst-1041814/) [Building](https://sms4smile.com/quotes/about/building/) [Burst](https://sms4smile.com/quotes/about/burst/) [Business](https://sms4smile.com/quotes/about/business/) [College](https://sms4smile.com/quotes/about/college/) [Com Bubble](https://sms4smile.com/quotes/about/com-bubble-1679343/) [Company](https://sms4smile.com/quotes/about/company/) [Create](https://sms4smile.com/quotes/about/create/) [Dot Com](https://sms4smile.com/quotes/about/dot-com-271087/) [Employers](https://sms4smile.com/quotes/about/employers/) [End](https://sms4smile.com/quotes/about/end/) [Fail](https://sms4smile.com/quotes/about/fail/) [Fail Founder](https://sms4smile.com/quotes/about/fail-founder-1679342/) [Going](https://sms4smile.com/quotes/about/going/) [Had](https://sms4smile.com/quotes/about/had/) [Kids](https://sms4smile.com/quotes/about/kids/) [Moment](https://sms4smile.com/quotes/about/moment/) [Money](https://sms4smile.com/quotes/about/money/) [Online](https://sms4smile.com/quotes/about/online/) [Our](https://sms4smile.com/quotes/about/our/) [Purpose](https://sms4smile.com/quotes/about/purpose/) [Realized](https://sms4smile.com/quotes/about/realized/) [Realized Company](https://sms4smile.com/quotes/about/realized-company-1679344/) [Remember](https://sms4smile.com/quotes/about/remember/) [Sharing](https://sms4smile.com/quotes/about/sharing/) [Spent](https://sms4smile.com/quotes/about/spent/) [Vividly](https://sms4smile.com/quotes/about/vividly/) [Way](https://sms4smile.com/quotes/about/way/) [Were](https://sms4smile.com/quotes/about/were/) [Wits](https://sms4smile.com/quotes/about/wits/) ## Related quotes > [In 2000, just before the first dot-com bubble burst, it cost a whopping $5 million to launch a tech startup.](https://sms4smile.com/quotes/peter-diamandis/in-2000-just-before-the-first-dot-com-bubble-burst-it-cost-a-whopping/) [Peter Diamandis](https://sms4smile.com/quotes/author/peter-diamandis/) > [My take on the whole dot-com bubble was that a lot of people who wanted to make a lot of money got too excited…](https://sms4smile.com/quotes/craig-newmark/my-take-on-the-whole-dot-com-bubble-was-that-a-lot-of-people-who/) [Craig Newmark](https://sms4smile.com/quotes/author/craig-newmark/) > [Virtually every major technology has an initial spike of interest, then a dip, and then a long-term rise to success. The dot-com bubble is…](https://sms4smile.com/quotes/balaji-srinivasan/virtually-every-major-technology-has-an-initial-spike-of-interest/) [Balaji Srinivasan](https://sms4smile.com/quotes/author/balaji-srinivasan/) > [When the internet came up, scores of companies were created. But many of them collapsed during the dot.com bubble.](https://sms4smile.com/quotes/ashok-soota/when-the-internet-came-up-scores-of-companies-were-created-but-many/) [Ashok Soota](https://sms4smile.com/quotes/author/ashok-soota/) > [I live in a bubble, but there have been times when my bubble has been burst.](https://sms4smile.com/quotes/courtney-act/i-live-in-a-bubble-but-there-have-been-times-when-my-bubble-has-been/) [Courtney Act](https://sms4smile.com/quotes/author/courtney-act/) > [“Inflation creates bubble and burst. That develops world economy, and will destroy it too.”](https://sms4smile.com/quotes/toba-beta/inflation-creates-bubble-and-burst-that-develops-world-economy-and/) [Toba Beta](https://sms4smile.com/quotes/author/toba-beta/) > [Don't you know that there's another bubble as well An expectations bubble. Bigger houses private planes yachts … stupid salaries and bonuses. People come…](https://sms4smile.com/quotes/edward-rutherfurd/don-t-you-know-that-there-s-another-bubble-as-well-an-expectations/) [Edward Rutherfurd](https://sms4smile.com/quotes/author/edward-rutherfurd/) > [That's our mirror. Every dip, every crash, every bubble that's burst, a testament to our brilliant stupidity. This one gave us the railroads. This…](https://sms4smile.com/quotes/lucy-prebble/that-s-our-mirror-every-dip-every-crash-every-bubble-that-s-burst-a/) [Lucy Prebble](https://sms4smile.com/quotes/author/lucy-prebble/) > [“I just wanted it to be a resource. Something that made it possible to keep the work going after the bubble burst and all…](https://sms4smile.com/quotes/magdalene-visaggio/i-just-wanted-it-to-be-a-resource-something-that-made-it-possible-to/) [Magdalene Visaggio](https://sms4smile.com/quotes/author/magdalene-visaggio/) > [“Don't you know there's another bubble as well? An expectations bubble. Bigger houses, private planes, yachts... stupid salaries and bonuses. People come to desire…](https://sms4smile.com/quotes/edward-rutherfurd/don-t-you-know-there-s-another-bubble-as-well-an-expectations-bubble/) [Edward Rutherfurd](https://sms4smile.com/quotes/author/edward-rutherfurd/) > [The reality is that not only were we massively hit in 2008 when the bubble burst, and then we realized how deep the social…](https://sms4smile.com/quotes/edgar-ramirez/the-reality-is-that-not-only-were-we-massively-hit-in-2008-when-the/) [Edgar Ramirez](https://sms4smile.com/quotes/author/edgar-ramirez/) > [I was secretary of the Treasury when the credit bubble burst, so I think it's fair to say that I know a little bit…](https://sms4smile.com/quotes/henry-paulson/i-was-secretary-of-the-treasury-when-the-credit-bubble-burst-so-i/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [I'm a romantic realist. I knew I would become a star, just as I know some day the bubble will burst.](https://sms4smile.com/quotes/telly-savalas/i-m-a-romantic-realist-i-knew-i-would-become-a-star-just-as-i-know/) [Telly Savalas](https://sms4smile.com/quotes/author/telly-savalas/) > [I always believed that the bubble could burst tomorrow. You're only as good as your last record.](https://sms4smile.com/quotes/dave-clark/i-always-believed-that-the-bubble-could-burst-tomorrow-you-re-only-as/) [Dave Clark](https://sms4smile.com/quotes/author/dave-clark/) > [“. . . the bond bubble, the tech bubble, the stock bubble, the emerging markets bubble, the housing bubble. . . One by one…](https://sms4smile.com/quotes/peter-thiel/the-bond-bubble-the-tech-bubble-the-stock-bubble-the-emerging-markets/) [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) ## More by Eric Ries > [The lesson of the MVP is that any additional work beyond what was required to start learning is waste, no matter how important it…](https://sms4smile.com/quotes/eric-ries/the-lesson-of-the-mvp-is-that-any-additional-work-beyond-what-was/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [HubSpot has used the lean startup method to build a spectacularly successful company. What I particularly love about HubSpot is that they are so…](https://sms4smile.com/quotes/eric-ries/hubspot-has-used-the-lean-startup-method-to-build-a-spectacularly/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [By the time that product is ready to be distributed widely, it will already have established customers.](https://sms4smile.com/quotes/eric-ries/by-the-time-that-product-is-ready-to-be-distributed-widely-it-will/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [Except in very narrow cases, where there's breakthrough science that needs patent production, worrying about competitors is a waste of time. If you can't…](https://sms4smile.com/quotes/eric-ries/except-in-very-narrow-cases-where-there-s-breakthrough-science-that/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [“waiting too long to release can lead to the ultimate waste: making something that nobody wants.”](https://sms4smile.com/quotes/eric-ries/waiting-too-long-to-release-can-lead-to-the-ultimate-waste-making/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [There's nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them…](https://sms4smile.com/quotes/eric-ries/there-s-nothing-wrong-with-raising-venture-capital-many-lean-startups/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [“In the Lean Startup model, every product, every feature, every marketing campaign—everything a startup does—is understood to be an experiment designed to achieve validated…](https://sms4smile.com/quotes/eric-ries/in-the-lean-startup-model-every-product-every-feature-every-marketing/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [Learning is the essential unit of progress for startups.](https://sms4smile.com/quotes/eric-ries/learning-is-the-essential-unit-of-progress-for-startups/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [“...a long-term reputation is only at risk when companies engage in vocal launch activities such as PR and building hype. When a product fails…](https://sms4smile.com/quotes/eric-ries/a-long-term-reputation-is-only-at-risk-when-companies-engage-in-vocal/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about…](https://sms4smile.com/quotes/eric-ries/the-minimum-viable-product-is-that-version-of-a-new-product-which/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [Every startup has a chance to change the world, by bringing not just a new product, but an entirely new institution into existence.](https://sms4smile.com/quotes/eric-ries/every-startup-has-a-chance-to-change-the-world-by-bringing-not-just-a/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [Entrepreneurs can't forecast accurately, because they are trying something fundamentally new. So they will often be laughably behind plan - and on the brink…](https://sms4smile.com/quotes/eric-ries/entrepreneurs-can-t-forecast-accurately-because-they-are-trying/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [Meritocracy is a good thing. Whenever possibly, people should be judged based on their work and results, not superficial qualities.](https://sms4smile.com/quotes/eric-ries/meritocracy-is-a-good-thing-whenever-possibly-people-should-be-judged/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [The lean startup method is not about cost, it is about speed.](https://sms4smile.com/quotes/eric-ries/the-lean-startup-method-is-not-about-cost-it-is-about-speed/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [We need to reengineer companies to focus on figuring out who the customer is, what's the market and what kind of product you should…](https://sms4smile.com/quotes/eric-ries/we-need-to-reengineer-companies-to-focus-on-figuring-out-who-the/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) [Explore all 138 Eric Ries quotes ](https://sms4smile.com/quotes/author/eric-ries/) ## More Bubble quotes > [What we're supposed to do as actors is be able to portray real human beings and emotions. And if you grow up in this…](https://sms4smile.com/quotes/emily-browning/what-we-re-supposed-to-do-as-actors-is-be-able-to-portray-real-human/) [Emily Browning](https://sms4smile.com/quotes/author/emily-browning/) > [“Recluses won’t find purpose living out their days in a sacred bubble. Partake in commerce, start working out, volunteer, go on a mission. Do…](https://sms4smile.com/quotes/m-j-demarco/recluses-won-t-find-purpose-living-out-their-days-in-a-sacred-bubble/) [M.J. DeMarco](https://sms4smile.com/quotes/author/m-j-demarco/) > [“But you couldn't unpop a bubble.”](https://sms4smile.com/quotes/kami-garcia/but-you-couldn-t-unpop-a-bubble/) [Kami Garcia](https://sms4smile.com/quotes/author/kami-garcia/) > [I don't even know what that means. People who get credit have to get it from somewhere. Does a credit bubble mean that people…](https://sms4smile.com/quotes/eugene-fama/i-don-t-even-know-what-that-means-people-who-get-credit-have-to-get/) [Eugene Fama](https://sms4smile.com/quotes/author/eugene-fama/) > [You know, as an only child, you're kind of in a bubble, and there are all sorts of things about my childhood that I…](https://sms4smile.com/quotes/anonymous/you-know-as-an-only-child-you-re-kind-of-in-a-bubble-and-there-are/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [“As a bubble you cannot change the world, this is obvious, but you can still make a child happy! Even the most worthless things…](https://sms4smile.com/quotes/mehmet-murat-ildan/as-a-bubble-you-cannot-change-the-world-this-is-obvious-but-you-can/) [Mehmet Murat ildan](https://sms4smile.com/quotes/author/mehmet-murat-ildan/) > [The media bubble is the ultimate symbol of what's wrong with this country.](https://sms4smile.com/quotes/steve-bannon/the-media-bubble-is-the-ultimate-symbol-of-what-s-wrong-with-this/) [Steve Bannon](https://sms4smile.com/quotes/author/steve-bannon/) > [When I found out about being cast in 'Spider-Man,' it was like this bubble developed around me. I was floating in it for a…](https://sms4smile.com/quotes/andrew-garfield/when-i-found-out-about-being-cast-in-spider-man-it-was-like-this/) [Andrew Garfield](https://sms4smile.com/quotes/author/andrew-garfield/) > [Trump has manufactured the first-ever Celebrity Immunity Bubble - rendering him incapable of offense, no matter whom he offends. It's brilliant.](https://sms4smile.com/quotes/greg-gutfeld/trump-has-manufactured-the-first-ever-celebrity-immunity-bubble/) [Greg Gutfeld](https://sms4smile.com/quotes/author/greg-gutfeld/) > [ “The Bradford Exchange—a knockoff of \[Joseph\] Segel’s \[Franklin Mint\] business—created a murky secondary market for its collector plates, complete with advertisements featuring its “brokers”… ](https://sms4smile.com/quotes/zac-bissonnette/the-bradford-exchange-a-knockoff-of-joseph-segel-s-franklin-mint/) [Zac Bissonnette](https://sms4smile.com/quotes/author/zac-bissonnette/) > [The end of the 'tech bubble' in the year 2000 is, of course, widely recognized, as the NASDAQ stock index erased three-quarters of its…](https://sms4smile.com/quotes/david-autor/the-end-of-the-tech-bubble-in-the-year-2000-is-of-course-widely/) [David Autor](https://sms4smile.com/quotes/author/david-autor/) > [It's like simulating earthquakes: we can over and over study a bubble, crash, bubble, crash. Then we can see mathematically if there's some regular…](https://sms4smile.com/quotes/colin-camerer/it-s-like-simulating-earthquakes-we-can-over-and-over-study-a-bubble/) [Colin Camerer](https://sms4smile.com/quotes/author/colin-camerer/) > [Only lets certain people in his bubble...you know who u r...so come on in...if your not one of them...stay the HELL OUT!!!](https://sms4smile.com/quotes/nishan-panwar/only-lets-certain-people-in-his-bubble-you-know-who-u-r-so-come-on-in/) [Nishan Panwar](https://sms4smile.com/quotes/author/nishan-panwar/) > [Every bubble has two components: something - some real trend, and a misconception about that trend.](https://sms4smile.com/quotes/george-soros/every-bubble-has-two-components-something-some-real-trend-and-a/) [George Soros](https://sms4smile.com/quotes/author/george-soros/) > [I decided if I couldn't be a writer, my life would be miserable. I had this imaginary room of references to all the books…](https://sms4smile.com/quotes/per-petterson/i-decided-if-i-couldn-t-be-a-writer-my-life-would-be-miserable-i-had/) [Per Petterson](https://sms4smile.com/quotes/author/per-petterson/) [Browse all 325 Bubble quotes ](https://sms4smile.com/quotes/about/bubble/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "It was 1999, and we were building a way for college kids to create online profiles for the purpose of sharing... with employers. Oops. I vividly remember the moment I realized my company was going to fail. My co-founder and I were at our wits' end. 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