Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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Jun 26 5:00 PM EST

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To: Cheeky Kid who wrote (2403)	1/5/2000 6:49:00 PM
From: BelowTheCrowd	Read Replies (2) of 3543

> The Internet will change EVERYTING. That's just the way it is. < OK, I buy it. What I don't buy, is the presumption that most companies affiliated with the internet will become profitable. International shipping changed everything, but most of the shipping companies -- even the ones chartered by the largest and most powerful trading nations -- went broke and many of their investors lost everything. Later, the railroads changed everything, but most early railroad companies went broke and many of their founders/investors lost everything. The automobile changed everything, but most car makers from the early years went broke and many of their founders/investors lost everything. Both of those revolutions were accompanied by huge speculation in ANY company even marginally attached to the "hot" business. Few of the original companies survived. Most of the ones that figured out how to make money with the new technology came long after the "revolution" began. Same is probably true today. It is fairly clear to me that AMZN will NEVER make money in its present form. They just had their best selling season ever, and when all the dust cleared we found the same as always "bigger sales, bigger losses." The promised shrinking of losses as the market size grows just hasn't materialized. The constant refrain "just wait until we're bigger" worked a couple of years ago, it no longer does. So it seems that we're in partial agreement. I agree that the internet changes everything. Disagree with the premise that the current crop of stocks promises to deliver much profitablity from the change. I'm looking hard for the ones that will... mg

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