1999 - Y2K Cost Projections

Aah-- dessert! Drawing
Alan Moir’s Aah—dessert! Drawing (Moir 2000b)

It was obvious by 1999, that Peter de Jager’s original claim that Y2K costs might climb as high as $75 billion had been too conservative.  In fact, the U.S. Department of Commerce in November that same year confirmed:

“Y2K repair costs will reach at least $100 billion and may go as high as $114 billion - - $365 for every man, woman and child in the U.S.”

At this time, de Jager, sensing that the public’s fear might get out of control due to the amount of Y2K propaganda being circulated, agreed to a follow-up interview with Computerworld Magazine (De Jager 1999):

De Jager: Lighten Up on Y2K Journal Article
Computerworld’s De Jager: Lighten Up on Y2K Journal Article (De Jager 1999), accompanied by Curator's narration (Author's own 2021, unpublished).

Stories about Y2K were of great interest to the public and attracted many viewers.  Because of this, and a lack of fact-checking, communication between the IT industry and the public appeared confusing and contradictory.  This is evident in the journal quotation shown below from Jack W. Hoffbuhr:

“Depending on who you believe, Y2K will be the biggest economic disaster since 1929, or it is overblown hype intended for the sole purpose of enriching management consultants.”

- Jack W. Hoffbuhr, American Water Works Association (Hoffbuhr 1998)

1999 - Y2K Cost Projections