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E-Dreams (2001)
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Overview
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Plot:
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. full summary | add synopsisUser Comments:
e-hubris more (11 total)Cast
(Credited cast) | Joseph Park | ... | Himself |
| Yong Kang | ... | Himself |
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Well, we knew trouble was headed the company's way when they couldn't get the utility bills paid. Or when the payroll procedure was out of whack. All this while thwarting the flurry of calls from top Wall Street investment banks and leading the investment community to believe that a tenuous relationship to the internet was all it took to catapult the company towards an astronomical market cap.
In e-dreams, as with Startup.com (another fine documentary about the e-retail debacle), we are taken a roller coaster ride through one entrepreneurs dream and its contrapuntal relationship with the grim realities of corporate America. At one point in the film, the co-founder bemoans how control of the company was turned over to seasoned veterans. Welcome to the party, pal. Early 2000 saw 2 trillion dollars worth of company and investor money wiped out in about six trading sessions. Kozmo.com is caught in all of this, transforming from 10 employees in a decrepit, NYC warehouse to a 1,100 arsenal in ten major cities after collecting over 280 million dollars from VCs. In the end, sadly, Kozmo was out the door as quick as the Seinfield character that spawned its name, laying off all employees, jettisoning its founders, and liquidating--at one point, giving away--its assetts. Yes, even the orange fleeces had to go.
Ultimately the story about CEO hubris, contingency plans M.I.A, and IPO fever, e-dreams reminds us how ludicrous the whole Internet bubble was to begin with. In the long run, profits rule the day, not good PR.
D.J. NYC Aug 2004