This was a scam by the computer manufacturers. Because of the hysteria, the federal government promulgated regulations which required businesses across the country to have to scrap their computer systems and put in new ones that were “Y2K” compliant. Since my law firm had federally regulated financial institutions as clients, we had to completely replace the firm’s computer systems.
I think you nailed it.
It was absolutely no scam. I was in the utility business and there were countless control system computers, back office computers, telecom gear, and embedded systems that were going to do unpredictable things. The industry spent years and hundreds of millions of dollars getting ready. The remediation projects were huge. The reason nothing happened is industries took it seriously and had professional programs launched by the mid 90s to get things fixed.
“Since my law firm had federally regulated financial institutions as clients, we had to completely replace the firms computer systems.”
Someone conned you!
It’s actually a myth that it was a scam. I worked on the Y2K problem back in ‘97 and ‘98. Our company had thousands of Y2K bugs that had to be fixed or the company’s entire system would have crashed. It took months of hard work to correct.
The big worry in our IT department was missing a legacy program that ran once in a blue moon and potentially screwed up billing.
It was no scam from the programming side. The scare tactics were another thing.
Not a scam. I worked for a small software company that had niche software that tracked investments and calculated returns. It had to be rewritten to work after 12/31/99. We got it done a couple years early so nothing happened except to a handful of users who didn’t update.
You were had.
I don’t fully understand why your entire system would have to be replaced.
I had a good accounting program (DACEASY by SAGE) & a bunch of clients. All I had to do was get the update on a disc. MY only problem was telling the kid on the phone THREE times that I needed a DOS system disc & he sent me WINDOWS.
They sent the right one overnight, but I sure didn’t need the delays.
Most all my clients did their own deposits & wrote their own checks. I did almost all the bookkeeping AFTER the fact at my home.