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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Rarebird who wrote (80568)12/21/1999 2:55:00 PM
From: Ken98  Read Replies (3) of 86076
 
Rarebird, "truth" is a dead concept in the New Era. Perception is the New Truth.

"Spin" sits at the throne of the New Era and "controlling expectations" is how it rules. Be it earnings expectations by HP or be it video depositions by our commander in chief - if you control the expectations you control the reality. That is the only truth that matters.

The American public does not want the "truth" in any sort of classical definition like to which you (correctly) refer - they want to hear what makes them feel good. We bombed Serbia to stop the "atrocities". We feel good. Don't tell us that the "atrocities" did not occur like we thought. The Russians are doing much the same things right now in Chechnya. Don't tell us. It would not make us feel good.

There is no doubt that the internet is revolutionary, but it is no more so than the railroad, electricity, radio or air travel were revolutionary in their times. And in each instance of these "revolutionary" technologies there was excessive speculation by the general public leading to excess capacity in that industry.

My point is not that the internet is an insignificant medium of communication. Rather, that (1) the hype surrounding the internet and the valuations afforded these stocks is not warranted, and (2) the empirical search for truth is a fortunate byproduct of the internet but is not the driving force behind the medium known as the internet and the general public could not give a rat's ass about that aspect of the internet.

Regards, Ken.
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