In form, it was a pretty simple discussion site. But it had a lot of insider info and an enormous amount of snark, and it really captured the spirit of the popping of Bubble 1.0 (and the post 9/11 downturn).
I remember one where a CEO made a big deal about the tech staff working through the holidays to finish vital new products. And then the CEO went on vacation to Hawai'i, leaving the nerds to grind it out. The memo and vacaction leaked to Fucked Company, where comments were spirited, and I think it eventually caused a big to-do.