The document discusses the dot-com bubble that occurred in the United States in the late 1990s. As internet usage grew, many new companies with "Dot Com" in their names launched and their stock prices soared, even for companies without proven business models. However, in early 2000 the bubble burst as many of these companies failed. This led to job losses of over 500,000 and pushed the US into recession while having varied impacts on other global economies.