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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 233.05+2.9%Jan 5 3:59 PM EST
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To: George Gotch who wrote (48383)3/31/1999 5:20:00 PM
From: Rob S.  Read Replies (1) of 164684
 
Your words sound like you have "been there" in the thick of competitive situations. The amount of money that has been attracted to the Internet stocks is enough to make many business people go for the gold. It will be just too tempting to concoct theories that giving away money now will result in glorious profits in the sweet by-and-by.

Remember not too long ago how "Japan Inc." was thought to have an infallible method of building up industries via near zero cost loans and cross patronization? America's semi industry was thought to be doomed to history. The result of their tremendous build up in memory and commodity industries was a vast over-supply and killing of profits. Then after the cold war ended, money rushed into the "Asian Tigers" to build up huge factories for production of autos, semis, etc. That too led to a vast over-supply and crash of their economies. They are still trying to dig themselves out.

But this is "BIG, REALLY BIG". The growth and change of the Internet is big enough that all this rationalization can be ignored for quite a while. Will many (most) companies crash hard? I think so but before they do many more fortunes will be made by speculation in their stocks.
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