"Chambers took a similarly meteoric ride in his early days running Cisco, which had a market value of about $15 billion in 1995, when networking equipment suddenly became must-have components for the buildup of the internet. The feverish demand briefly turned the firm into the world's most valuable company - worth $550 billion in March 2000 - before the investment bubble burst. The crash caused Cisco's stock price to plunge more than 80% during a period that Chambers still recalls as the worst of his career."
"Cisco bounced back to deliver consistent financial growth to help establish Chambers as one of Silicon Valley's most respected leaders before he stepped down as CEO in 2015, but company's stock price has never approached the peak it reached a quarter century ago. While remaining Cisco's chairman emeritus, Chambers is now as fascinated by the AI's transformative powers as he once was by the internet revolution."
John Chambers experienced the internet boom and bust while leading Cisco, which rose from about $15 billion in 1995 to $550 billion by March 2000 before a crash. The crash drove Cisco's stock down more than 80%, a period Chambers recalls as the worst of his career. Cisco later returned to consistent financial growth and Chambers became a respected Silicon Valley leader before stepping down as CEO in 2015. Chambers remains Cisco's chairman emeritus and now focuses on AI as a venture capitalist advising CEOs and investing in AI startups. He sees parallels between the AI surge and the 1990s internet frenzy while noting faster pace and larger potential outcomes.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]