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Technology Stocks : General Magic
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To: Mark Oliver who wrote (8038)2/14/2000 6:31:00 PM
From: dgurgel  Read Replies (1) of 10081
 
Phone and Onebox have aggressive young engineers. I do not think GMGC has many of those left; and, yes, as you note, those VCs help one mightily to concentrate and lend much good advice. In 1983 - 1984 my company briefly was hot and on an IPO track. My angels kept the pressure on.

That Phone.com $7 billion valuation is just unbelievable.

Those VCs must snicker when they think what it is like over at GMGC when GM execs meet with Markman and company. Imagine the difference. I had thought about the financial impact of being an "old" company with the initial IPO funds gone but had not thought much about the cultural impact until your post reminded me.

Once you let the key engineering and operations VPs go, I think you have only four to six months (that means by the end of March) to get a deal done. I still think one will happen and if it happens at $20 it would be believable.

I have not been able to get www.generalmagic.com site all afternoon. It really has been a mess and in sharp contrast to the with-it appearance of the competition (except for FONX site which also was bad last time I looked). The MyTalk site is better. The www.portico.net site is nearly dead.

FONX has risen from the ashes (up from $0.25 to $1.40 in the last three weeks) after the most horrible problems. In a hot sector strange things happen.

If you were out this morning, you perhaps picked up a few again at 9 1/4 or so. I want to see it through, but I am watching the size of my investment carefully.
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