Honestly the internet benefited from businesses noping out out it. The internet in the 2000's was so un-commercialized and driven by hobbyists with the motivation to share their passions rather than making money.
Yeah. Then people realized that they have to spend money to keep websites alive, which means they had to somehow make money from the websites to keep them alive. Which commercialized the internet again in 2010s. And it's going only downhill today.
There are 3 tech bubbles I personally expect to burst in the 2020s- The first and most obvious one is the Crypto/Web3/NFT bubble. While you could certainly argue that there may be value in those technologies (some more than others)- a vast majority of the investors are treating it like a pump and dump scheme. I'm lumping all 3 of those into one bubble as that seems to be what most of the investors are doing. The next bubble I think will burst is the AI bubble. AI is something that will never go away and is an incredible advancement- but much like the internet in the 1990s investors are starting to blindly throw money at any AI idea that has potential to take off- regardless of if the company actually has the capability (or intentions) to do so. The third is the Big Data bubble. For decades now companies have been mass collecting internet data on people and it's become digital gold. However, I'd wager that for most internet users- over half the data collected is either junk data or misleading to the companies paying for it. and that's not accounting for recent controversies such as Google's adsense fiasco. I'm just some jackass on the internet, so obviously don't take this as investing advise lol.
I just want to say, the whole "speculation market" issue was prevalent in the 20's too. A huge part of why banks ran out of money was due tk their investing.
And naturally, as brought up, cryptocurrencies are similar in general to such speculation markets. Combined with high-profile frauds and failures taking advantage of the investment money being thrown around though.
it's a cycle that always occurs in capitalism that economists since the 19th century have been writing about. it's inherent to the system. it's what happens when the most selfish and shortsighted get ahead the furthest and push the rest out of the market. the system is set up to fail. ending capitalism is the only way to end its problems
The Dot-Com bubble, was Millennials first introduction to the perpetual cycles of collapse and economic devastation, that would be regularly destroying any possible chance they had at a comfortable life. We got sold a future that was soon to no longer exist.
Not just sold, then, we were gaslit. Over and over and over. We would look at the patterns but be told no no, do this, go to college, invest in this, get this unpaid internship, work hard at this job and just do what you’re told and never complain… it’ll all work out. And we got screwed over again and again and again and those same people who we trusted that told us to do that? Now blame us for those decisions. Mom, you were sitting next to me when I was 18, telling me to sign those loans. I believed your insight. I trusted you.
some knows how to get a comfortable life with that, so much that one went to space and another one has a space program to his name, the gen x not embracing that is the issue, there are still a ton of useless buisnesses run by genxers and their belly button dream where i live, tons of overpriced restaurants that serves empty plates with flowers or thingammajiggys markets that all going bankrupt and hurting the economy, they didnt raise their kids so now at 15-25yo their kids (not millenials) wont go to work and usefull buisnesses that sells worldwide cant get decent young employees to ensure the future of their buisnesses, 2 gens that rather ride bicyles naked or dressed as a drag queen than doing anything usefull for the future of the civilisation
Ymmv but It wasn't fun, challenging yes but you ended up hitting walls very soon. Dialup everywhere, most sites had to be static, browsers very frail, and everything rendered in weak CPUs Actual webdev skills needed back then was only true serverside, perl/cgi scripting, later maybe coldfusion. Only after 98 things started to change faster, imo 99-15 were the golden years
The old internet was so much better... sure it was slow , but it was a place of mystery and wonders, hardly regulated... a place of expression with every website being a new adventure using very different designs and structures without annoying ads. Nowadays it all genuinely just looks close to the same with ads everywhere and it genuinely lost its charme in that regard.
@@ghost_mall well , yes and no. One can say it got streamlined and more efficient to the point of loosing most of its charme. Nowadays in many cases , for the most part, the net is all about the big players. It is convenient, sure, but it comes with heavy drawbacks aswell. It is a 2 sided blade really. Personally I would still prefer the older web~ sure it is less convenient , but it was just genuinely more fun and interesting to use. It all feels incredibly commercialised nowadays and really only focusses on the big few.
He elaborated I think that banks were also purchasing things on credit as well in a different way as there was very little regulation on what banks could do with how to invest in the market back then.
@ChrisHilgenberg and thanks to Regan and Thatcher there exsist even less bank regulations today.... at least for the bankers, however as a bank user you can't spend over 10k without them getting all in your ass about where your funds are from.
OP's points about consumers buying things now and paying them later, hits hard when you think about the rise of these sorts of BNPL programmes, like Afterbay (NZ/Aus) and Klarna (USA), and how things could get ugly with them.
I think something similar is about to happen with the attention-based advertising bubble. Having an economy where a significant portion of labor is centered around content creation & hosting platforms is not sustainable under any circumstances. Oh, there's also the bigger bubble of central banks all over the world endlessly printing new money, which only creates more debt & poverty for future generations, while increasing the ruling class's wealth & power.
@@a_creamsy1st228 Laws of thermodynamics. Always get less energy out of a system than is put in. Once the masses are consuming more energy to make & consume content, than they are contributing energy/service/work back to the system, it will eventually burn itself out (probably not without a great deal of turmoil in the process).
@@a_creamsy1st228 That's an interesting question... If I were to guess at an answer for why the "attention-based" economics of today's internet isn't sustainable, I'd look at two reasons, in particular: 1) The internet is a gaping maw, ravenously hungry for more & more "content," so the major platforms deliver advertising to audiences, which is how they actually make their money. Individual content-creators will either suffer burnout from the relentless pace of providing more new material, or the market will become over-saturated with too many content-creators, lowering the value of each individual effort, with most not making enough money to recoup the production costs, let alone become profitable. That "churn-'n-burn" model can make the platforms money, but might eventually lead to a widespread "content-collapse." a good example of this is Spotify, and their exploitation of musicians, from famous to obscure, by paying them a pittance for their songs. 2) The survival of any platform is not guaranteed, no matter how ubiquitous or important it may seem, right now. The commercial internet is barely 30-something-years-old, but is littered with "elephant graveyards" of once mammoth platforms. And public attention is a _very_ fickle thing. A good example of that is Twitter, a company which even its most ardent users seemed to despair about (or just flat-out hate)-- and that was long was before Elon Musk bought it, seemingly hellbent on crashing the bird into the sea... Those are a few things that just popped into my head. In fairness, though, I can't speak for the original commenter, @statikreg , but maybe he'll expand on his comments, later. Hope that was worth the read, haha. What're your thoughts on the matter? All the best, my friend.
@@a_creamsy1st228Without knowing enough about economy to answer this perfectly, I also think the 'influencer economy' is kinda inflated: lots of people watch lots of content, hence ads are seen time after time and influencers get paid for it, but I can't remember one product I have bought after seeing it on a TH-cam ad or on an ad from an influencer, and I think that kinds of ads don't really make as much revenue back as they cost, and, most of all, I don't think they could really pay as much influencer jobs as they are paying now. A period of recession may make this alleged really more apparent, and lots of entreprises may be broke or stop spending as much on this kind of advertising, thus making the influencer economy collapse and causing lots of influencers stop creating content. We may be seing some hints of it on the fact that lots of content creators must work a lot to gain enough and lots of youtubers are now entire companies depending on this economy. It may or not happen, but it seems plausible for me. Edit: I forgot to say that it also has the problem of being oversaturated and extremely prone to overregulation problems that may affect it massively.
it will defo not be the same thing but one place i reccomend is neocities . basically a modern recreation of geocities . theres probably many more like it but i cant really remember them atm
I came across a website the other day that really hadn’t been updated recently and it had a lot of old school web page vibes, and I really enjoyed clicking around blue links that are left aligned in a column lol.
They're already making videos on how the NFT market has crashed, though I think you're talking about the point of time when all the NFT marketplaces have crashed and the items wiped where only the token exists in the blockchain used to mine it.
IM SO HAPPY YOU INCLUDED THE MALCOM IN THE MIDDLE CLIP YOOOOO Everytime I hear "Dotcom bubble" that scene plays in my head. Having it thrown in at the end of the video blew my mind bravo man
Edit because what i said wasn’t that accurate:I think that it didn’t destroy the economy ,it was like teenage years so what was before it was childhood and the beginning of being something someone ,then comes the weird teenage years and these changes that will make you better and a reliable someone what comes after it is being a strong adult which is the good and reliable internet we know today and and the internet before is what prepared us for this. And thanks.This is good content quality.
Yes and no. It certainly did start a new economy, which is why so many people were excited! But when that economy crashed, people still lost most if not all their investments. For some hedge-fund managers, that was HUNDREDS of MILLIONS of dollars, and some of that was gone overnight. Truly terrifying! Could you imagine that happening right now?! When people lose that much money, they can't afford to really buy anything, which in turn hurts other aspects of the economy that are completely unrelated, because less money is now in circulation. It creates a domino effect. So yes, quite literally because of (dot)coms, the United States entered a recession in the early 2000s. Thanks for watching!! :)
"In an attempt to be as apolitical as possible, this is a big reason why the US healthcare system is so terrible" The fact that people have to start fundraisers in order to afford insulin sounds like a dystopia to us Italians (and I think it's the case for most European countries) Anyway, keep up the good work
Yaaaa but most of the medicine and advanced medical technology you other countries have, you only have because of americas super capitalistic system and hard knock ways of invention and imagination.
@@djoh615893 that system is already changing. Ozempic is all the rage and there is a new drug similar. That’s even more effective that just came out and they expect it to be the best selling drug of all time. It cause weight loss of a evade 50 pounds in 6 months. Obesity is already quickly on its way out. It’s gonna be crazy how fast things change.
The fact that every market is suseptible to over speculation and bubbles continually happening should be the first sign that the stock market and banking system as a whole is deeply flawed
As someone who didn't live in the 90's, I was looking to hear what Com Bubble even is, and I feel 19:11 is the only part that feels like an explanation.
Something to keep in mind is that the dot-com bubble wasn't just the result of online businesses not delivering on their goods and services. That was really just one part of it. It was also the result of a surplus of wealth among many investors due to good monetary policy, the decade's booming economy encouraging investing, and overconfidence in the internet because no one understood it, which therefore allowed people to disregard many of the mistakes of the past (and as you can see with the Great Depression, there are quite a few parallels. Investors not taking the worst economic disaster in modern history seriously into account is a HUGE red flag.). And then when all that capital dried up, the house of cards slowly started to fall, and that's when the section you mentioned entered the picture and brought things down even further. So yes, while companies failing to deliver on their promises was certainly the "how," there's also the "why," "what," "when," etc. I hope that makes sense! Sorry if it dragged on a bit. Just wanted to provide as much background as I could! Thanks for watching!! :)
Basically, we didn't really know what the internet was back then. It wasn't mainstream. A lot of us didn't fully understand what a website is. All we knew was, that it was going to change the world. And because of that, every time a company created a company that had a website, investors would blindly dump their money in it. People were investing in things that they didn't understand. And at some point it became clear that investors were investing in a bunch of nothing. It became clear that just because you made a website, it doesn't mean that you'll be making a profit and everything came down crashing... It was kinda like DogeCoin X 1000
Just remember in ten years how stupid it is having a sandwhich delivered to you by a desperate dude with a delivery app and this video will make sense then
@ghost_mall For IT my school (about 2013) told us about components of a computer, some binary math, Microsoft Office, turtle graphics, Pascal and HTML markup. Picked up networking and backend coding at college. If schools now have the history of computer science and technology, it's great, because I have little knowledge of history that isn't release dates of OS, protocols, or what's currently trending. I take this video required some prior knowledge before watching, so I apologize.
It'd be cool if in one of your videos could talk about the "any" key. How some users thought that "Press any key to continue" was referring to a specific key called "any", and how it affected developers' approaches to designing their applications. Just a small thing I thought was interesting and couldn't find anyone making videos on.
@@justkevin09 True, but a reference in a cartoon is a little different than a video describing the history of "press any key to continue" and how the confusion affected future software.
I was threatened with disownment if I didn’t go into computers as a career since “that’s where the money is”. I graduated high school in 99. I got my first tech job a couple years later. I lost that job just a few after that and never ever got the money I was promised lol. 😂
So many people i know work so hard yet can barely afford the most basic cost of living.. It baffles me. Even tho Society is struggling, We are yet to even attempt to implement a concept around: "The better off the lowest income people are doing; The better off the rest of the economy could be doing." -Think of it like a ecosystem in nature. The littlest things might seem insignificant yet, if they crumbled away, the entire ecosystem could crumble. The last things remaining would be the top things in the food chain.. the whales would all be gone once the plankton crumble away, the sharks would eat the whales. Then once all that's left is sharks, the sharks would eat the sharks. *(Think of this but as a analogy for our economy and our modern day society..) If we instead decided to support the lowest people in the ecosystem, there would be a beneficial dispersion towards other aspects of the society benefiting. All because the lowest people would be flourishing. (I say flourish but I really mean: Able to obtain the most basic living standards..) Yet even that would Vastly improve our current state of our economy & society *Also imagine this analogy in our economy. The more help we invest in the lowest level people, the more it would trickle into every facet of our economy. If poor people can pay their rent & not go homeless: landlords would get $, businesses would get $, banks would get $, local small shops would get $, mortgages & bills could be paid, insurance companies would get $, Taxes would get $, So essentially that $ would go out & filter right back in to improve our Country while simultaneously improving our quality of Life. Every bit of the economy would somehow find a way to benefit off of this situation... I don't get why we haven't even Given it a chance?? If it doesn't help? Then by all means stop it and figure out what else we should do. (I hope we TRY something soon, before things get any more unstable. The worst thing we could do is continue on doing exactly what we are currently doing.)
@@Budehgong I provide: communism is trash and no better than nazism / fascism. Also, it has nothing to do with the system described above, even though it is also questionable.
Doubt. If you shower poor people with money there is high chance they just shit all of them away. You need to have a system of social support, but one which shouldn't become a toy at hands of politicians or abuse at hands of beneficiars.
It would be better for everyone except the richest people who also happen to have so much political influence that they can easily lobby for things to stay the same
@@ShadowSumac It depends. A steady, sufficient income needed to cover all your expenses *as well as* social support is a way out of poverty. People are shitting away a certain fraction of their money no matter how much income they have; that's what's called _disposable_ income
*sigh* the beanie baby reference hit hard... My mom's best friend convinced her to use my college fund to buy those stupid things so she could "double her money"... She allegedly had them all stolen out of her van 😅
By all social media policies, they will ban you if they find out you're not 13+. The internet is a dangerous place anyway. I got my first taste of a toxic relationship at the ripe old age of 10@@sse2cpu
Got my first PC in 1996. I was 13. It was such an exciting time. PC HW & SW moved soooooo fast back then. The PC we got was as high spec as you could get at the time, and while still usable for 5-6yrs or so. It was far overshadowed within less than 2yrs lol. Glad I got to experience it.
Before Windows 95, PC users (GASP!) poked around in DOS's Command Line Interface (CLI). I know I did; as most of the games I played back then were DOS games. Even though I had Windows 3.1 back then, I still did most of my gaming on DOS. DOS is, of course, not as user-friendly as the icons-and-windows interface that we're familiar with these days.
3:41 “How do we stop anything like it from happening again” … I’m afraid we might already be going down that road again with this AI trend. People have already poured 27.1 billion into it (google searched) with little to show for it so far. History may not always repeat itself but it does mirror frequently.
Seems like everything is going downhill these days. These "bubbles" in the economy created a false sense of security in young people like I was during that time.
it all goes back to the horrible way the usa economy was during the 1980s you think whats going on now is bad, times that by 5 and you get reagans economy it was bad in a way that are economy has never really got back to pre 1980s level
The Simpsons had a “Gilded Age” episode about this. I think it was the Angry Dad episode. “Help yourself to some more stock!” and the stock is a toilet paper roll, lol.
what a ride, thanks mate. i lived through that, so quite nostalgic.. the way you present the information is so cool, it's relaxed and unbiased. please keep these vids coming 🙏👍
I don't think people buying on credit caused the Great Depression; it was more the rampant and unregulated pumping and dumping of stocks by market players who were already wealthy - or who became wealthy by cleverly learning the rules of the (unregulated) game - that resulted in the relentless crashes that wiped out investments and reduced so many to poverty for years afterwards.
I dunno the exact timeline, but Henry Ford actually refused to sell cars on credit for awhile. Part of the reason GM leapfrogged past Ford was you could pay in full for a black-only Ford Model T, or finance a Chevrolet in a color of your choice. General Motors was quickly selling pricier cars to more people than Ford.
16:00 I will chime in here to state that yes, it is that high due to the love of his work. But I will also state it is high due to the rarity of Warhol's paintings. Yes, he has a fair amount of them and Warhol died not all that long ago, but not everyone can have one of his paintings. And not everyone can have a genuine Orange Prince. But ultimately you are right, a lot of it is due mostly to speculation.
No, it really is just due to the perception that his work is loved and therefore people want it. Rarity in itself doesn't make something valuable just by being rare. I can go buy one canvas and paint exactly one painting, and if something being rare was an objective cause for value, my _one_ painting should be extremely expensive because my paintings are so rare. But that's not what would happen. I'm no one, and my one painting wouldn't be worth anything. I couldn't sell it for millions on that point alone.
It was like a gold rush. Investors were desperate to get in on the action and backed any company that made a product announcement. So many companies failed to even develop a product, the term vaporware became commonly used. However, Investing in Google or Apple in 1998 would have been very lucrative.
it's good to see growth with you covering this, remember a couple of years ago you accepted sponsorship from an NFT provider, so it's really nice to see you examining this stuff more critically now
I remember this time quite well. If you listened with even a lightly critical ear, it was an obvious bubble. Too much jargon in the pitches that never defined what the actual function of the business was.
Imagine considering the internet as a place that magically transports you to other spaces and peoples, rather than giving you a simulation of it while the real world spaces dwindle.
The 2000's was a wild time to surf the internet, and it started getting overt about clicks and monetization after that. I really loved the forums on a few sites.
The brain surgery comment was a bit to optimistic on the date timeline, but that's 100% doable for the last 10 years or so. I've been in one room with a patient with a doctor on a robot in another room operating on them. No reason that can't be done from a different country.
I feel like you forgot a part of it... The lenders would lend in exchange for first dibs on the stock, just before it went public. Then, since lenders are credible, when the stock did go public, people would buy it, as hey, lender has it. The lender would then dump their stock, after the value went up, making a huge profit. (Speculation) This cycle benefited the lender, and lot of the early buyers, so they were incentivized to repeat it. Eventually, the market got wise and just stopped. And when some lenders lost money, they all panicked. This scared everyone, who dumped everything to make sure they kept some money before the value of the stock was nothing. The more that did this, the more panic, and the more who would do this.
I do hope that with the number of economic crisis the past 40yrs that people collectively gain hindsight so they don’t repeat those same mistakes. My belief is schools need to teach economics beyond a simple level so that people know what to do or not to do. Brining back the programs that allowed Americans to finance their purchases like housing without high interest and payments that weren’t affordable. We have to change something before it repeats again.
I remember the days of AOL and playing around with the 'God mode' tools floating around (that did not give your computer cancer). I remember if there was someone I didn't like, I'd use the tool to email bomb them lots of emails, but only worked within the AOL walled garden. Crazy times 😅
The entire Y2k problem was averted thanks to good planning by companies all over the world. The problem was caused by the computer RTC clock handling the year with only two digits. The RTC of a standard PC is located on the motherboard, and it is powered by a little battery. Decision was made that the IT departments will replace the non compliant motherboards in the computers all over the entire company. If that wasn't feasible, the entire computer will have to be replaced, just like all old laptops and servers. This job began in February 1999 and so, thanks to millions of hours spent by IT specialists, and the millions of new motherboards made in Taiwan at the time, the Y2K remained a warning and never became a menace. The software side of the Y2K problem was taken care of by Win98 SE, a Windows NT service pack, and various Unix patches. Old DOS applications like Lotus 123, Quattro Pro, etc which had the Y2K bug inside them, had to be phased out. Fun times...
I don't understand the idea that money/trading is the ONLY thing that ever incentivizes creation and innovation. That's complete nonsense. Have you ever met an artist? We don't create for money, we create because it's fulfilling in itself. Have you ever met a wikipedia editor? The amount of work those people do purely for free is astonishing. Hell, have you ever had a hobby in your life? Money is not the only thing that motivates people. sometimes people do things because... get this... the activity has intrinsic value and provides intrinsic fulfillment. The idea that there would be no innovation and nobody would ever do any work without the incentive of money is truly an opinion of only the hobbyless.
"the activity has intrinsic value" Exactly. It may not be money in this case, but it reinforces the point that I am making that we, as people, assign value to things that we believe give us fulfillment. For everyday things like supporting ourselves and keeping ourselves alive, we apply that value to money. In situations where the motivation is improving quality of life and happiness, we apply that to things like art, hobbies and also, again, money, since we often need the money to get us those nice things. And the value of all those things provides the incentive to pursue them. There are plenty of artists that do their art for the money, because money, along with the other things you mentioned, also improves quality of life. That doesn't make them any less of artists. That just means their motivations are placed elsewhere, and that is the case with everybody in life.
The *first 100 people* to *download Endel* by clicking the link will get a *free week* of audio experiences!
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6 likes?
@@TheNooberGoober Now it's 7 because i liked LOL 🤣
@@TheNooberGoober And it's now 6 again
Honestly the internet benefited from businesses noping out out it. The internet in the 2000's was so un-commercialized and driven by hobbyists with the motivation to share their passions rather than making money.
The Scene in its prime.
Yeah. Then people realized that they have to spend money to keep websites alive, which means they had to somehow make money from the websites to keep them alive. Which commercialized the internet again in 2010s. And it's going only downhill today.
We have different definitions of 'benefits'
Haha glad they never came back
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Please let us go back to the good days, corporate overlords
Not sure if I agree with that at all. The 90's internet was free for nearly everything once you had access.
There are 3 tech bubbles I personally expect to burst in the 2020s- The first and most obvious one is the Crypto/Web3/NFT bubble. While you could certainly argue that there may be value in those technologies (some more than others)- a vast majority of the investors are treating it like a pump and dump scheme. I'm lumping all 3 of those into one bubble as that seems to be what most of the investors are doing.
The next bubble I think will burst is the AI bubble. AI is something that will never go away and is an incredible advancement- but much like the internet in the 1990s investors are starting to blindly throw money at any AI idea that has potential to take off- regardless of if the company actually has the capability (or intentions) to do so.
The third is the Big Data bubble. For decades now companies have been mass collecting internet data on people and it's become digital gold. However, I'd wager that for most internet users- over half the data collected is either junk data or misleading to the companies paying for it. and that's not accounting for recent controversies such as Google's adsense fiasco.
I'm just some jackass on the internet, so obviously don't take this as investing advise lol.
You matter, guy or girl. You matter.
I hope you're right on all three of these.
This is the most expected yet unexpected outcome! Well, Good Prediction bro!
We ain’t reach the Blockchain bubble yet but we are nearly there. That’s what’s next. AI after
Thus will start third golden age of internet.
I just want to say, the whole "speculation market" issue was prevalent in the 20's too. A huge part of why banks ran out of money was due tk their investing.
And naturally, as brought up, cryptocurrencies are similar in general to such speculation markets. Combined with high-profile frauds and failures taking advantage of the investment money being thrown around though.
And why the Glass-Steagall Act was put in place... which Clinton repealed and led to the 2008 housing crash.
it's a cycle that always occurs in capitalism that economists since the 19th century have been writing about. it's inherent to the system. it's what happens when the most selfish and shortsighted get ahead the furthest and push the rest out of the market. the system is set up to fail. ending capitalism is the only way to end its problems
Every single time
The Dot-Com bubble, was Millennials first introduction to the perpetual cycles of collapse and economic devastation, that would be regularly destroying any possible chance they had at a comfortable life. We got sold a future that was soon to no longer exist.
Boooo, u're not fun
Not just sold, then, we were gaslit. Over and over and over. We would look at the patterns but be told no no, do this, go to college, invest in this, get this unpaid internship, work hard at this job and just do what you’re told and never complain… it’ll all work out. And we got screwed over again and again and again and those same people who we trusted that told us to do that? Now blame us for those decisions. Mom, you were sitting next to me when I was 18, telling me to sign those loans. I believed your insight. I trusted you.
some knows how to get a comfortable life with that, so much that one went to space and another one has a space program to his name, the gen x not embracing that is the issue, there are still a ton of useless buisnesses run by genxers and their belly button dream where i live, tons of overpriced restaurants that serves empty plates with flowers or thingammajiggys markets that all going bankrupt and hurting the economy, they didnt raise their kids so now at 15-25yo their kids (not millenials) wont go to work and usefull buisnesses that sells worldwide cant get decent young employees to ensure the future of their buisnesses, 2 gens that rather ride bicyles naked or dressed as a drag queen than doing anything usefull for the future of the civilisation
And now you're so "poor" you collect funko pops and starwars merch, yeah right.
@@Ie1222_ I've literally never met a millennial that actually did that lmao
My only regret is not being old enough to work as a web developer in the 90s
I did my first (commercial) website in 1996, doesn't mean much.
@@ghost_mall Exactly.
Macromedia dreamweaver
@@surjectis it on the internet archive?
Ymmv but It wasn't fun, challenging yes but you ended up hitting walls very soon. Dialup everywhere, most sites had to be static, browsers very frail, and everything rendered in weak CPUs
Actual webdev skills needed back then was only true serverside, perl/cgi scripting, later maybe coldfusion.
Only after 98 things started to change faster, imo 99-15 were the golden years
The old internet was so much better... sure it was slow , but it was a place of mystery and wonders, hardly regulated... a place of expression with every website being a new adventure using very different designs and structures without annoying ads.
Nowadays it all genuinely just looks close to the same with ads everywhere and it genuinely lost its charme in that regard.
Imagine using the internet today without having an ad-blocker to turn off all those ads...
@gina-hp2jo yeah , but hey i never had too much issued with viruses. Sasser I think was the worst I caught.
@@ghost_mall well , yes and no. One can say it got streamlined and more efficient to the point of loosing most of its charme. Nowadays in many cases , for the most part, the net is all about the big players. It is convenient, sure, but it comes with heavy drawbacks aswell. It is a 2 sided blade really.
Personally I would still prefer the older web~ sure it is less convenient , but it was just genuinely more fun and interesting to use. It all feels incredibly commercialised nowadays and really only focusses on the big few.
@@ghost_mall maybe a timeline in which the concept of mega corporations does not exist or failed, heh.
On the one hand, we didn’t have the same UI standard on every single site. On the other hand, we had to deal with Flash. I do not miss Flash.
You legit explained the Great Depression better than anyone ever. I never understood it until now 😅😭
He elaborated I think that banks were also purchasing things on credit as well in a different way as there was very little regulation on what banks could do with how to invest in the market back then.
@ChrisHilgenberg and thanks to Regan and Thatcher there exsist even less bank regulations today.... at least for the bankers, however as a bank user you can't spend over 10k without them getting all in your ass about where your funds are from.
OP's points about consumers buying things now and paying them later, hits hard when you think about the rise of these sorts of BNPL programmes, like Afterbay (NZ/Aus) and Klarna (USA), and how things could get ugly with them.
I am proud to say I bought my first new car in cash, back in 2020.
I miss the 90s and early 2000s so much. I dont miss dial up though.
I miss being able to get an IT job anywhere in the country I wanted, with just a year of experience.
I think something similar is about to happen with the attention-based advertising bubble. Having an economy where a significant portion of labor is centered around content creation & hosting platforms is not sustainable under any circumstances.
Oh, there's also the bigger bubble of central banks all over the world endlessly printing new money, which only creates more debt & poverty for future generations, while increasing the ruling class's wealth & power.
Worst part about the latter is that unlike the former, we have a LOT of examples of the repercussions of it throughout history.
How isn't it sustainable?
@@a_creamsy1st228 Laws of thermodynamics. Always get less energy out of a system than is put in. Once the masses are consuming more energy to make & consume content, than they are contributing energy/service/work back to the system, it will eventually burn itself out (probably not without a great deal of turmoil in the process).
@@a_creamsy1st228 That's an interesting question... If I were to guess at an answer for why the "attention-based" economics of today's internet isn't sustainable, I'd look at two reasons, in particular:
1) The internet is a gaping maw, ravenously hungry for more & more "content," so the major platforms deliver advertising to audiences, which is how they actually make their money. Individual content-creators will either suffer burnout from the relentless pace of providing more new material, or the market will become over-saturated with too many content-creators, lowering the value of each individual effort, with most not making enough money to recoup the production costs, let alone become profitable. That "churn-'n-burn" model can make the platforms money, but might eventually lead to a widespread "content-collapse." a good example of this is Spotify, and their exploitation of musicians, from famous to obscure, by paying them a pittance for their songs.
2) The survival of any platform is not guaranteed, no matter how ubiquitous or important it may seem, right now. The commercial internet is barely 30-something-years-old, but is littered with "elephant graveyards" of once mammoth platforms. And public attention is a _very_ fickle thing. A good example of that is Twitter, a company which even its most ardent users seemed to despair about (or just flat-out hate)-- and that was long was before Elon Musk bought it, seemingly hellbent on crashing the bird into the sea...
Those are a few things that just popped into my head. In fairness, though, I can't speak for the original commenter, @statikreg , but maybe he'll expand on his comments, later. Hope that was worth the read, haha. What're your thoughts on the matter?
All the best, my friend.
@@a_creamsy1st228Without knowing enough about economy to answer this perfectly, I also think the 'influencer economy' is kinda inflated: lots of people watch lots of content, hence ads are seen time after time and influencers get paid for it, but I can't remember one product I have bought after seeing it on a TH-cam ad or on an ad from an influencer, and I think that kinds of ads don't really make as much revenue back as they cost, and, most of all, I don't think they could really pay as much influencer jobs as they are paying now. A period of recession may make this alleged really more apparent, and lots of entreprises may be broke or stop spending as much on this kind of advertising, thus making the influencer economy collapse and causing lots of influencers stop creating content. We may be seing some hints of it on the fact that lots of content creators must work a lot to gain enough and lots of youtubers are now entire companies depending on this economy. It may or not happen, but it seems plausible for me.
Edit: I forgot to say that it also has the problem of being oversaturated and extremely prone to overregulation problems that may affect it massively.
The way websites were designed back back then makes me very nostalgic. I wish I could occasionally surf the web just like it was 1996 again! 🙂
Same I miss seeing those old simple websites and graphics
@@WatchMeBeLegacyVisiting The Way Back Machine/Internet Archives helps a lot :')
There are various recreations of it.
it will defo not be the same thing but one place i reccomend is neocities . basically a modern recreation of geocities . theres probably many more like it but i cant really remember them atm
I came across a website the other day that really hadn’t been updated recently and it had a lot of old school web page vibes, and I really enjoyed clicking around blue links that are left aligned in a column lol.
Mark my words… We are in a massive AI bubble just like the early 2000’s.
Short positions go brrr
You've been killing it lately, man. So many quality videos so quickly. Glad to see a fellow guy from The Valley making waves!
Keyes keyes keyes keyes on van nuys
@@nationsquidbroooo
In 20 years people will make videos How NFT bubble crashed ,
Suprising how this is so similar to NFT , cryoto market
They're already making videos on how the NFT market has crashed, though I think you're talking about the point of time when all the NFT marketplaces have crashed and the items wiped where only the token exists in the blockchain used to mine it.
IM SO HAPPY YOU INCLUDED THE MALCOM IN THE MIDDLE CLIP YOOOOO
Everytime I hear "Dotcom bubble" that scene plays in my head. Having it thrown in at the end of the video blew my mind bravo man
Crazy how after one quite obscure video release, "The Jamison Family" became the face of the 1990's internet.
Edit because what i said wasn’t that accurate:I think that it didn’t destroy the economy ,it was like teenage years so what was before it was childhood and the beginning of being something someone ,then comes the weird teenage years and these changes that will make you better and a reliable someone what comes after it is being a strong adult which is the good and reliable internet we know today and and the internet before is what prepared us for this. And thanks.This is good content quality.
Ok
Ok
okay, b0ommer 😂🤪🤓
Yes and no. It certainly did start a new economy, which is why so many people were excited! But when that economy crashed, people still lost most if not all their investments. For some hedge-fund managers, that was HUNDREDS of MILLIONS of dollars, and some of that was gone overnight. Truly terrifying! Could you imagine that happening right now?!
When people lose that much money, they can't afford to really buy anything, which in turn hurts other aspects of the economy that are completely unrelated, because less money is now in circulation. It creates a domino effect. So yes, quite literally because of (dot)coms, the United States entered a recession in the early 2000s.
Thanks for watching!! :)
Ok
Moral of the story: don't trust venture capitalists, don't fall for get rich quick schemes, and don't put too much stock in the stock market.
This video is so good, just like all of his other videos. Keep going NationSquid!!!
Me
I am!
i am
Everyone: I am!
OP: Time to change the comment to "Who else is ga-"
@@internet_userr lol
"In an attempt to be as apolitical as possible, this is a big reason why the US healthcare system is so terrible"
The fact that people have to start fundraisers in order to afford insulin sounds like a dystopia to us Italians (and I think it's the case for most European countries)
Anyway, keep up the good work
Not so fun fact! Its cheaper to buy an Xbox than to buy insulin in the USA
Yaaaa but most of the medicine and advanced medical technology you other countries have, you only have because of americas super capitalistic system and hard knock ways of invention and imagination.
We are also the fattest society ever on Earth, so there is a good reason to gouge before someone makes a change to that system
@@djoh615893 that system is already changing. Ozempic is all the rage and there is a new drug similar. That’s even more effective that just came out and they expect it to be the best selling drug of all time. It cause weight loss of a evade 50 pounds in 6 months. Obesity is already quickly on its way out. It’s gonna be crazy how fast things change.
As someone who's lived in the US my whole life, I can confirm. It's dystopian as f*ck.
The fact that every market is suseptible to over speculation and bubbles continually happening should be the first sign that the stock market and banking system as a whole is deeply flawed
you’ve really been killing it with the content lately I’m loving it!
"You may have born too late to explore the earth and too early to explore the universe." Love this line. It fits our generation perfectly.
As someone who didn't live in the 90's, I was looking to hear what Com Bubble even is, and I feel 19:11 is the only part that feels like an explanation.
Something to keep in mind is that the dot-com bubble wasn't just the result of online businesses not delivering on their goods and services. That was really just one part of it.
It was also the result of a surplus of wealth among many investors due to good monetary policy, the decade's booming economy encouraging investing, and overconfidence in the internet because no one understood it, which therefore allowed people to disregard many of the mistakes of the past (and as you can see with the Great Depression, there are quite a few parallels. Investors not taking the worst economic disaster in modern history seriously into account is a HUGE red flag.).
And then when all that capital dried up, the house of cards slowly started to fall, and that's when the section you mentioned entered the picture and brought things down even further.
So yes, while companies failing to deliver on their promises was certainly the "how," there's also the "why," "what," "when," etc.
I hope that makes sense! Sorry if it dragged on a bit. Just wanted to provide as much background as I could! Thanks for watching!! :)
Basically, we didn't really know what the internet was back then. It wasn't mainstream. A lot of us didn't fully understand what a website is.
All we knew was, that it was going to change the world. And because of that, every time a company created a company that had a website, investors would blindly dump their money in it.
People were investing in things that they didn't understand. And at some point it became clear that investors were investing in a bunch of nothing. It became clear that just because you made a website, it doesn't mean that you'll be making a profit and everything came down crashing...
It was kinda like DogeCoin X 1000
Just remember in ten years how stupid it is having a sandwhich delivered to you by a desperate dude with a delivery app and this video will make sense then
@@sunnohh yeah a 50$ burger lol
@ghost_mall For IT my school (about 2013) told us about components of a computer, some binary math, Microsoft Office, turtle graphics, Pascal and HTML markup. Picked up networking and backend coding at college. If schools now have the history of computer science and technology, it's great, because I have little knowledge of history that isn't release dates of OS, protocols, or what's currently trending.
I take this video required some prior knowledge before watching, so I apologize.
we're back baby, it's AI's turn
It'd be cool if in one of your videos could talk about the "any" key.
How some users thought that "Press any key to continue" was referring to a specific key called "any", and how it affected developers' approaches to designing their applications. Just a small thing I thought was interesting and couldn't find anyone making videos on.
Simpson’s did it
@@justkevin09 True, but a reference in a cartoon is a little different than a video describing the history of "press any key to continue" and how the confusion affected future software.
Oh yes! That sounds right up the alley of this channel and I would find it really fascinating
I was threatened with disownment if I didn’t go into computers as a career since “that’s where the money is”. I graduated high school in 99. I got my first tech job a couple years later. I lost that job just a few after that and never ever got the money I was promised lol. 😂
So many people i know work so hard yet can barely afford the most basic cost of living..
It baffles me. Even tho Society is struggling, We are yet to even attempt to implement a concept around: "The better off the lowest income people are doing; The better off the rest of the economy could be doing." -Think of it like a ecosystem in nature. The littlest things might seem insignificant yet, if they crumbled away, the entire ecosystem could crumble. The last things remaining would be the top things in the food chain.. the whales would all be gone once the plankton crumble away, the sharks would eat the whales. Then once all that's left is sharks, the sharks would eat the sharks. *(Think of this but as a analogy for our economy and our modern day society..)
If we instead decided to support the lowest people in the ecosystem, there would be a beneficial dispersion towards other aspects of the society benefiting. All because the lowest people would be flourishing. (I say flourish but I really mean: Able to obtain the most basic living standards..) Yet even that would Vastly improve our current state of our economy & society
*Also imagine this analogy in our economy. The more help we invest in the lowest level people, the more it would trickle into every facet of our economy. If poor people can pay their rent & not go homeless: landlords would get $, businesses would get $, banks would get $, local small shops would get $, mortgages & bills could be paid, insurance companies would get $, Taxes would get $, So essentially that $ would go out & filter right back in to improve our Country while simultaneously improving our quality of Life. Every bit of the economy would somehow find a way to benefit off of this situation... I don't get why we haven't even Given it a chance?? If it doesn't help? Then by all means stop it and figure out what else we should do. (I hope we TRY something soon, before things get any more unstable. The worst thing we could do is continue on doing exactly what we are currently doing.)
You're right, that would be better.
Now try saying what such a system would be called and watch the reactions :(
@@Budehgong I provide: communism is trash and no better than nazism / fascism.
Also, it has nothing to do with the system described above, even though it is also questionable.
Doubt.
If you shower poor people with money there is high chance they just shit all of them away. You need to have a system of social support, but one which shouldn't become a toy at hands of politicians or abuse at hands of beneficiars.
It would be better for everyone except the richest people who also happen to have so much political influence that they can easily lobby for things to stay the same
@@ShadowSumac It depends. A steady, sufficient income needed to cover all your expenses *as well as* social support is a way out of poverty. People are shitting away a certain fraction of their money no matter how much income they have; that's what's called _disposable_ income
*sigh* the beanie baby reference hit hard... My mom's best friend convinced her to use my college fund to buy those stupid things so she could "double her money"... She allegedly had them all stolen out of her van 😅
Ah! The Great Depression. Story of my life.
Keeping you in my prayers regarding the things you might be going through man. It’s always just temporary.
Did you say AI? take my money! (The AI bubble coming soon)
Why does this guy sound like the computer verison of nile red
The thumbnail is basically the definition of the 90s internet
@@sse2cpu get off the web
Stay off social media till youre 13@@sse2cpu
@@sse2cpu you have to be joking lol
@@sse2cpu lol
By all social media policies, they will ban you if they find out you're not 13+. The internet is a dangerous place anyway. I got my first taste of a toxic relationship at the ripe old age of 10@@sse2cpu
Got my first PC in 1996. I was 13. It was such an exciting time. PC HW & SW moved soooooo fast back then. The PC we got was as high spec as you could get at the time, and while still usable for 5-6yrs or so. It was far overshadowed within less than 2yrs lol. Glad I got to experience it.
Saying the healthcare system isn't perfect but is working is a pretty ballsy thing to say. People die every day because they can't afford healthcare
They should get a job and health insurance then
Before Windows 95, PC users (GASP!) poked around in DOS's Command Line Interface (CLI). I know I did; as most of the games I played back then were DOS games. Even though I had Windows 3.1 back then, I still did most of my gaming on DOS. DOS is, of course, not as user-friendly as the icons-and-windows interface that we're familiar with these days.
3:41 “How do we stop anything like it from happening again” … I’m afraid we might already be going down that road again with this AI trend. People have already poured 27.1 billion into it (google searched) with little to show for it so far. History may not always repeat itself but it does mirror frequently.
Crazy how fast internet got! We went from 56kb per second to 1-2GB per second!
Oh neat, I'll be able to see this when it drops! Looking forward to this one.
Seems like everything is going downhill these days. These "bubbles" in the economy created a false sense of security in young people like I was during that time.
it all goes back to the horrible way the usa economy was during the 1980s you think whats going on now is bad, times that by 5 and you get reagans economy it was bad in a way that are economy has never really got back to pre 1980s level
Ah the classic internet. Brings back memories. Such a simpler time.
The Simpsons had a “Gilded Age” episode about this. I think it was the Angry Dad episode. “Help yourself to some more stock!” and the stock is a toilet paper roll, lol.
Given how things are going, it sadly doesn't appear that we as a society learned much from that...
The introduction could easily be applied to cryptocurrencies and blockchain.
Great video! Thank you so much for actually having captions
what a ride, thanks mate.
i lived through that, so quite nostalgic..
the way you present the information is so cool, it's relaxed and unbiased. please keep these vids coming 🙏👍
just wanted to say I love your videos! keep up the great work chief
The thumbnail is so epic.
I just wanna go back in time. Please God find us a time machine, put me in 1998 with 15 years old and let me live the glory of those times
Karolina being referenced was something I wasn't expecting, but damn I was totally here for it 😂
My grandfather's answer to the question what's something worth was: "what the stupid gives to you". This is value.
So many years, so many different bubbles...
Makes me wonder when the AI bubble will burst, or will it be different?
another BANGER from nationsquid, keep it up king !!
I don't think people buying on credit caused the Great Depression; it was more the rampant and unregulated pumping and dumping of stocks by market players who were already wealthy - or who became wealthy by cleverly learning the rules of the (unregulated) game - that resulted in the relentless crashes that wiped out investments and reduced so many to poverty for years afterwards.
I’m binge watching all your videos. I love these and am learning so much lol
I feel like your videos have been getting better and better for every video you've put out lately !!
Your voice reminds me of the narrator in the Curious George show and that makes me feel very safe and happy. Thank you
I dunno the exact timeline, but Henry Ford actually refused to sell cars on credit for awhile. Part of the reason GM leapfrogged past Ford was you could pay in full for a black-only Ford Model T, or finance a Chevrolet in a color of your choice. General Motors was quickly selling pricier cars to more people than Ford.
Henry Fords car was a lot cheaper than most cars. Even in today's money.
"If Apple decided to make them outrageously expensive, no one would buy them"
Apple fanatics: HOOOOLLD MY LEFT KIDNEY!!!
This guy puts so much work into his videos and deserves more subscribers
You're honestly such a ✨mood✨ I love your videos they keep getting better and better 🌟
OMG it's the topic I chose from the recent poll! I'm excited for this! 0:34
I don't think Tears for Fears said that about interest rates
🎵 Help me to decide 🎵
🎵 Help me make the best investments 🎵
Say, that you'll never never never need it
One headline why believe it?
the 2000s were great to be a kid on the internet
16:00 I will chime in here to state that yes, it is that high due to the love of his work. But I will also state it is high due to the rarity of Warhol's paintings. Yes, he has a fair amount of them and Warhol died not all that long ago, but not everyone can have one of his paintings. And not everyone can have a genuine Orange Prince.
But ultimately you are right, a lot of it is due mostly to speculation.
Very true points! Thanks for watching! :)
No, it really is just due to the perception that his work is loved and therefore people want it.
Rarity in itself doesn't make something valuable just by being rare. I can go buy one canvas and paint exactly one painting, and if something being rare was an objective cause for value, my _one_ painting should be extremely expensive because my paintings are so rare.
But that's not what would happen. I'm no one, and my one painting wouldn't be worth anything. I couldn't sell it for millions on that point alone.
I'm still waiting for my stock shares of "Ask Jeeves" and "Lycos" to rebound after the big selloff of 2000...any day now.
It was like a gold rush. Investors were desperate to get in on the action and backed any company that made a product announcement. So many companies failed to even develop a product, the term vaporware became commonly used. However, Investing in Google or Apple in 1998 would have been very lucrative.
it's good to see growth with you covering this, remember a couple of years ago you accepted sponsorship from an NFT provider, so it's really nice to see you examining this stuff more critically now
I remember this time quite well. If you listened with even a lightly critical ear, it was an obvious bubble. Too much jargon in the pitches that never defined what the actual function of the business was.
Imagine considering the internet as a place that magically transports you to other spaces and peoples, rather than giving you a simulation of it while the real world spaces dwindle.
Great video as always. Been binging this channel and always happy with a new upload! Btw both band shirts are great 😊
I’m high, and this channel is beautiful, literally my favorite
From it's Open-Source base, Netsscape birthed Firefox
Hearing "Netscape Navigator" gave me some really deep, unexpected nostalgia.
The American Dream sure leads to a lot of depressions
The American economy has Manic-Depressive (Bipolar) Disorder.
On your mark! Get set! We're riding on the internet :)
Cyberspace! Cyberspace!
Was in two entire advanced placement history classes and never has the stockmarket collapse after the 20s been explained so well until this video.
The 2000's was a wild time to surf the internet, and it started getting overt about clicks and monetization after that. I really loved the forums on a few sites.
there is always a bubble around the corner because we as humans are inherently greedy.
A NS vid without a 4 day premiere notification taunting me endlessly? Yes please!
5 Trillion wasn't lost. It just changed hands.
Just like the Wild West, the internet was open season, but by the end of it, the railway companies owned it all.
In my high school economics class we used Milk, Eggs, and Bread as our examples of an Inelastic Goods
3:52 omg I’m wearing the exact same Green Day shirt 😂 nice to see a fellow fan out there! 😂
It's weird hearing the unedited song not going "cyberspace, cyberSex"
NationSquid face reveal jumpscare!!!
The brain surgery comment was a bit to optimistic on the date timeline, but that's 100% doable for the last 10 years or so. I've been in one room with a patient with a doctor on a robot in another room operating on them. No reason that can't be done from a different country.
I feel like you forgot a part of it...
The lenders would lend in exchange for first dibs on the stock, just before it went public.
Then, since lenders are credible, when the stock did go public, people would buy it, as hey, lender has it.
The lender would then dump their stock, after the value went up, making a huge profit.
(Speculation)
This cycle benefited the lender, and lot of the early buyers, so they were incentivized to repeat it.
Eventually, the market got wise and just stopped. And when some lenders lost money, they all panicked.
This scared everyone, who dumped everything to make sure they kept some money before the value of the stock was nothing. The more that did this, the more panic, and the more who would do this.
I remember going with my dad to sign up for the internet 30ish years ago... he walked out with some floppies for his Windows 3.11 machine to connect.
ai bubble is bursting rn. capitalism is a giant game of monopoly and people being exploited is a feature not a bug
IK and for some reason people are still buying more leveraged AI positions
I enjoy videos like this, Bit of a nostalgia trip
1990’s Internet History is always fascinating.
I do hope that with the number of economic crisis the past 40yrs that people collectively gain hindsight so they don’t repeat those same mistakes. My belief is schools need to teach economics beyond a simple level so that people know what to do or not to do. Brining back the programs that allowed Americans to finance their purchases like housing without high interest and payments that weren’t affordable. We have to change something before it repeats again.
i miss 90s internet, i miss napster that was the thing, everyone was on napster
I remember the days of AOL and playing around with the 'God mode' tools floating around (that did not give your computer cancer). I remember if there was someone I didn't like, I'd use the tool to email bomb them lots of emails, but only worked within the AOL walled garden. Crazy times 😅
New subscriber! Dude I love your shirt!
I love to see that you like Malcolm in the Middle!
The entire Y2k problem was averted thanks to good planning by companies all over the world.
The problem was caused by the computer RTC clock handling the year with only two digits. The RTC of a standard PC is located on the motherboard, and it is powered by a little battery.
Decision was made that the IT departments will replace the non compliant motherboards in the computers all over the entire company. If that wasn't feasible, the entire computer will have to be replaced, just like all old laptops and servers.
This job began in February 1999 and so, thanks to millions of hours spent by IT specialists, and the millions of new motherboards made in Taiwan at the time, the Y2K remained a warning and never became a menace.
The software side of the Y2K problem was taken care of by Win98 SE, a Windows NT service pack, and various Unix patches. Old DOS applications like Lotus 123, Quattro Pro, etc which had the Y2K bug inside them, had to be phased out.
Fun times...
Finally what we asked for,from a text poll! 🥳🎉✨
I don't understand the idea that money/trading is the ONLY thing that ever incentivizes creation and innovation. That's complete nonsense. Have you ever met an artist? We don't create for money, we create because it's fulfilling in itself. Have you ever met a wikipedia editor? The amount of work those people do purely for free is astonishing. Hell, have you ever had a hobby in your life? Money is not the only thing that motivates people. sometimes people do things because... get this... the activity has intrinsic value and provides intrinsic fulfillment. The idea that there would be no innovation and nobody would ever do any work without the incentive of money is truly an opinion of only the hobbyless.
"the activity has intrinsic value"
Exactly. It may not be money in this case, but it reinforces the point that I am making that we, as people, assign value to things that we believe give us fulfillment.
For everyday things like supporting ourselves and keeping ourselves alive, we apply that value to money. In situations where the motivation is improving quality of life and happiness, we apply that to things like art, hobbies and also, again, money, since we often need the money to get us those nice things. And the value of all those things provides the incentive to pursue them.
There are plenty of artists that do their art for the money, because money, along with the other things you mentioned, also improves quality of life. That doesn't make them any less of artists. That just means their motivations are placed elsewhere, and that is the case with everybody in life.
cant wait to watch (25 more minutes)!!! :)