Apple and Amazon Make This a Very Different Nasdaq

The party event for Pixelon's product launch, called "iBASH '99", was held October 29, 1999 at the MGM Grand Las Vegas, at a reported cost of $16 million. Kiss and The Who, among others, performed Photograph by Steve Granitz/Getty Images

As we contemplate the once-iconic Nasdaq at a 12-year high—how Apple and Amazon have picked up where Cisco and Intel flamed out—take in this true story: In December 1999, while working at Goldman Sachs, I accepted a colleague’s invitation for dinner at one of Manhattan’s pricier Chinese restaurants. This tony place touted a chicken dish one had to order 24 hours in advance; it was encased in clay soil and irrigated with rose petal liqueur.

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