How It Feels To Lose $150 Million

My dot.com's been smashed! But don't cry for me--O.K., you probably aren't--I'll do fine. And so will the business. That's how this entrepreneur consoles himself when he looks at the stock performance of TheStreet.com a company that came public at $19 just a few months ago, roared to $70 on the first day of trading and now finds itself below the offering at about $18.

It is not unusual for the market to fall in love with a stock, seduce it and then abandon it. What is unusual is for this to happen faster than a college...