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E-Dreams (2001)

 -  Documentary  -  2 June 2001 (USA)
6.8
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Ratings: 6.8/10 from 229 users   Metascore: 65/100
Reviews: 11 user | 6 critic | 8 from Metacritic.com

An in-depth look at the highs and lows of a dot com. The movie follows the founders of Kozmo.com as they raise money and file for IPO. But no one has predicted the market crash in April 2000.

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Cast

Credited cast:
Joseph Park ...
Himself
Yong Kang ...
Himself
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Himself (as Iana Hansen)
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Storyline

The recent "new" economy with its unprecedented highs and frantic reversals of fortune is rife with fascinating true stories. e-Dreams turns it's focus to the recently defunct Kozmo.com. Once upon a time, a story like this would have been unbelievable, even among those intimate with the workings of Wall Street. But Kozmo.com is now a case study of how an entire economic sector went awry. Just three years ago, Kozmo.com was just an idea in the minds of two 20-something Korean American investment bankers: an online convenience store that made deliveries of snacks, videotapes and other products within a half hour. Beginning in an unfurnished warehouse, co-founders Joseph Park and Yong Kang and their small group of employees did everything from build the website to making deliveries on bicycle. Over the following year their business grew from 10 employees to 3,000 and extended to 11 cities. Like so many other dot-coms, Kozmo.com's growth was something hitherto unseen: It raised more than ... Written by Seattle International Film Festival Guide

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internet | ipo | failure | bankruptcy | ceo | See All (11) »

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2 June 2001 (USA)  »

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American e-Dream  »

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User Reviews

Not named after Kozmo Kramer...
29 January 2008 | by (Switzerland) – See all my reviews

...but after the drink, the Cosmopolitan, which was quite the hip drink those days. When I first met Joe he wined and dined me at some of the most over-priced bars in Manhattan (not the hip ones, they were down the street; I offered to show him, but his self-conviction that we were in the best place was amazing), and he drank many.

I actually haven't seen this movie, but I was involved with Joe and Yong before it was a company with 10 employees in a decrepit warehouse, when it was just the two of them in an apartment in lower Manhattan, with me living upstairs. I was running a software development firm at the time and met Joe in the hallway and he asked me to come talk to them.

I met with Joe and Yong and gave them some technical advice and they asked me if I would be interested in developing their software. I said sure, and we negotiated the terms, and they said great they wanted me to do it.

I started putting a team together and getting the paperwork together and was in touch with them and they were constantly positive. Then a few days later they told me they wanted to compensate me all in equity, to show that I was committed to their concept. As I personally believed they would never make more than enough money to pay their delivery people (a view apparently shared by many more sophisticated analysts), I told them I was interested in cash only.

They continued to lead me on that I would be doing the work, until I came down to finalize the paperwork and they told me they had hired someone else, after assuring me they wanted to work with me and not even telling me they were looking elsewhere! Now knowing what Joe Park's handshake and word were worth, I ventured off to fairer pastures and didn't think much of it again. I bumped into Yong later and he told me that the people they hired didn't know what they were doing (you get what you pay for!) and asked if I wanted to be involved again; I felt sorry for Yong but didn't want to get back involved.

Of course I saw them again and was even their customer (though I quickly defected to Urban Fetch when they launched, on principle). It was great to come back from Europe with jet lag, call them up at 5 AM and order a movie and some cokes and have them show up. I was amazed at how successful they were at raising capital; whenever I met with Joe in the early days he couldn't get through a sentence without stammering with an "ummm...well..."; years later I saw him on TV, and it was the same story! People invested over $250MM with this guy? What are the rest of us doing wrong???

I look back on it all with affection for the funny days of the dot com madness (and this was early). It was only a couple weeks of my time and I didn't invest a penny, so I guess I got off easy. I did not know there was a movie made, I have to see it; nor did I know it made CNet's Top 10 dot-com flops list. The things you find when you are bored surfing the internet! I would like to know what Joe Park is up to these days, but that info is not so obvious...


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