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In
August, 2001 The Industry Standard magazine, the journal of record
for the dot com industry, closed its headquarters at 315 Pacific Avenue,
ceased publication and fired most of its 180 employees. Just months earlier
its editors had boasted that the publication would fell the mightiest giants
of the publishing world. After only a few years on newsstands, the high
flying Standard had became the oracle of the tech industry, hiring top
reporters away from old economy journals and turning a profit in short
order. But that was before dot com companies failed in droves, taking with
them the Standard's lucrative advertising revenue. Following layoffs earlier
in the year, the publication's owners had hoped to secure a $10 million
loan to continue operations. When the loan fell through the decision was
made to pull the plug, shooting the final dart into San Francisco's share
of the Clinton-era dot com money bubble. |