360networks was a telecommunications company that raised over $15 billion to build fiber optic networks across North America and Europe, anticipating massive demand for internet bandwidth that never materialized. The company filed for bankruptcy in 2001, leaving behind thousands of miles of unused "dark fiber" infrastructure that was eventually sold for pennies on the dollar.
Why 360networks Matters
360networks represents one of the largest infrastructure overbuilding disasters in internet history, demonstrating how demand forecasting errors can destroy billions in investor capital when combined with capital-intensive business models. The company's failure illustrates how infrastructure investments require accurate market timing and demand validation, as overbuilding creates stranded assets that cannot generate returns.