Mercury News columnist says goodbye

Vindu Goel, the San Jose Mercury News business columnist leaving for a job at the New York Times, said goodbye to readers Tuesday by remembering what it was like when he joined the paper.

Goel wrote, “When I arrived here from Cleveland in 1999, both the tech industry and the Mercury News were going through an unprecedented boom. 

“The Internet was transforming an industry long dominated by chip and computer companies. Dot-coms peddling everything from pet food to hosted software services were raising billions of dollars from venture capitalists and stock-market investors — and blowing a lot of the cash on lavish parties, advertising and Aeron chairs.

“And the Mercury News was going through its own growth spurt. When I approached the paper about a job, the business editor said he had close to 10 openings but told me, ‘Don’t worry which job you’re interviewing for. One of them will fit. Just come out here and talk to us.’

“Little did anyone know that the bubble was already deflating.

“Over the next three years, Silicon Valley suffered its worst slump ever. Scores of public companies disappeared, as did about one out of five jobs. The Mercury News watched its classified advertising evaporate, and other ad categories went into a slump from which they’ve never rebounded.”

Read more here.