Dot-com bust (2000-2002)
Tech companies that expanded rapidly during the late 1990s boom gave back office space when the bubble burst. San Francisco's office vacancy rate soared from about 2 percent to over 20 percent.
Massive office vacancies in tech hubs; developers and landlords faced significant losses.
The office market took years to recover; some buildings were converted to residential or other uses.
Like Amazon's pandemic-era expansion, the dot-com boom saw tech companies lease space they later couldn't fill.
