I have a hard time explaining how a few really crazy things actually happened in the past. The best I can do: You had to be there at the time.
That’s rarely a good answer, and it doesn’t come close to explaining some of the things that occurred near the end of the Internet-era stock boom. One of those things was Sycamore Networks Inc.
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Smart people throwing money at an unproven tech company has been a hallmark of the last few decades of severely increasing income inequality. There is a deviation from the core of investment capitalism, where investors truly invest in the growth of a company. Too often it has become a type of casino-ism, where the game is a short term gamble for quick, high-yield returns.