In the late 1990s, many feared this glitch could cause widespread failures in banking systems, power grids, transportation networks, and other critical infrastructure. This idea took hold of the public imagination, spawning doomsday predictions, a booming survivalist market, and a massive global push to audit and repair vulnerable systems before the deadline—work that cost an estimated $300B-$500B.
Because of the extensive preparations, Y2K passed without significant disruptions. However, its legacy endures: the crisis helped modernize global IT systems, accelerated the outsourcing of programming jobs, and exposed society’s dependence on digital infrastructure—prompting long-term shifts in cybersecurity and software maintenance.