The crash had myriad victims, but a few can stand for the many. Webvan burned through more than $1 billion before declaring bankruptcy in July 2001.44 Pets.com had the ignominious distinction of liquidating a mere 268 days after its February 2000 IPO.45 It closed its first day of trading at $11, the same price at which it had gone public—no first-day pop. The next week of trading saw it down at $7.50.46 eToys went out of business after ringing up $274 million of debt. Once valued at $10 billion, its liquidators couldn’t even line up bidders for the $80 million warehouse system it had built.47
