For everyone involved, it was far more helpful to your career if you joined the hosanna chorus talking up the prospects of the soaring market. Fund managers who did not fill their holdings with technology stocks saw their returns trail those of their peers and even the market indexes. “You either participate in this mania, or you go out of business,” Roger McNamee, one of the most famous technology investors of the era, told Fortune in June of 1999. “It’s a matter of self-preservation.”
