finance

Does anyone remember Y2K?  It happened just 15 years ago. The $100 billion in the US -- $350 billion worldwide -- that was spent to convert information systems to move from a 2-digit year to a 4-digit year, well, it seems so last century. The belief at that time: The move from the YYMM format of dates in all systems everywhere (all military, government, and commercial) in the year 2000 would create a "0001" January 1, 2000 date format that would result in disaster. Checks couldn’t be issued, military systems would fail, hospitals and power plants would shut down or off. This was preceded by sky-is-falling anxiety, particularly among IT people who bore the brunt of redirecting work to code this change.