Was Y2K Justified Paranoia?

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I was born in 2000. I’ve always heard that Y2K was just dramatics and paranoia, but I’ve also read that it was justified and it was handled by endless hours of fixing the programming. So, which is it? Was it people being paranoid for no reason, or was there some justification for their paranoia? Would the world really have collapsed if they didn’t fix it?

In: Technology