The document discusses the DotCom bubble that occurred in the 1990s in California. The bubble burst in 2001 after unusual high investment in internet companies led stock prices to rise greatly from 1990 to 2000. When the stock prices slumped in 2000-2001 due to interest rate hikes and terrorist attacks, it led to over 560,000 job losses in the United States. However, not all countries experienced severe economic damage from the bubble bursting.