Hear! Hear!
Finally some words of wisdom from one who has read and understands what the Gildertech Letter is all about.
Mr. Palau speaks from that experience that qualifies him as one entitled to express a valid opinion regarding George Gilder. In order to understand and appreciate George Gilder, one must read and study his voluminous contributions regarding the technology of the future, a technology which he incorporates in what he has labeled Telecosm Technologies.
George is not a bean counter. Nor is he a prisoner to those facts that every one else depends on for their daily sustenance. He has learned, in his own words, to leap before he looks. That is why he is a visionary.
More important, to continue to be successful as an investor or otherwise, one must be capable of envisioning the future, or capable of relying on others with the ability to do so who have proven themselves worthy of trust. This is the only way that one can avoid being trapped in the present and condemned to investing in the past.
Despite the best efforts of Armstrong, AT&T is a company that is trapped in the present because it continues to invest in the past. Until it brings itself to the point that it can scrap its obsolete technology, however costly, and embrace the new, it will continue to lose market share. It is ironic that today, one of the Baby Bells, SBC, has a market cap greater than AT&T, the company that was forced to spin it off years ago along with all the other Baby Bells.
George Gilder knows the future. He attempts to communicate his vision to those who have eyes that see and ears that hear. Despite those on this thread whose only ambition is to bring him down to their way of thinking, George goes merrily along, confounding his critics and continuing to encourage those who understand him and act on the insights garner therefrom. |
