Introduction

Abstract

The cut in interest rates with which the Federal Reserve reacted to the widespread local financial crisis (Mexico, Asia, Russia, Brazil) and technological advances in the late 1990s caused a rapid economic downturn, while the US economy grew exuberantly within what came to be known as the “new economy.” However, as stock markets reached never-before-seen record highs, the huge profits of companies such as Enron and World.com turned out to be fictitious. The Dotcom bubble ended up bursting in 2000. The technological advances that defined the “new economy” were here to stay, though, and those digital platforms and applications which enabled sharing of goods and services that changed the way we consume, have fun, study, find partners and live our lives became mainstream.