Robbie Bruens’s Reviews > Palo Alto: A History of California, Capitalism, and the World > Status Update

"...early investors were not too worried about how web start-ups were going to eventually make profits; it was a land rush, so they pushed in and kept their eyes fixed on the IPO horizon. Established banks were happy to play along, especially considering the inflated fees they could charge players in the frothy sector. Remember that people were doing a lot of cocaine."