Article published in the Summer 2001 edition of California Management Review, yet it never mentioned Y2K, the first thing I thought of when I read the line "fixing problems that never happened". Perhaps it was actually written in 1999 and took a while to get published, because otherwise that seems a very strange omission. The Y2K problem was very much over-hyped by the American news media at the time (no, at no point would airplanes have been falling out of the sky — I literally heard someone say that would happen once — even if no effort had been put into fixing the bug).

But in recent years I have seen people (elsewhere, not on HN) claim that Y2K was a big nothingburger, and all the money spent on fixing the bug was wasted. No, that's not true either. All the money spent on fixing the bug was why it turned into a big nothingburger. Sure, some of that money was wasted, by executives who wanted an "official" Y2K-certified certificate, issued by a consulting firm that had nothing "official" about it except their own say-so. And so they spent $2 million learning what their own employees could have told them for $2,000. THAT money was wasted. But a lot of banks were running old COBOL code that used 2-digit years, and needed to be fixed. The fact that in January 2000, everyone's bank interest was still calculated correctly, and not calculated as if it was January 1900? THAT was entirely due to the vast amounts of money spent paying old COBOL coders to come out of retirement and fix the 2-digit years.

The lesson I learned from that is that it's possible for a problem to be overhyped, even massively overhyped, and yet still be a serious problem. The other lesson I should have learned is that people rarely get credit (I won't go so far as the article authors and say "nobody ever gets credit") for fixing problems that never happened.