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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 227.90

+0.4%

Dec 9 3:59 PM EST

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To: Sarmad Y. Hermiz who wrote (120817)	3/19/2001 12:06:36 AM
From: Bill Harmond	Read Replies (4) of 164684

Everybody sees the same market information in real time. This is a first and I think it has network effects just like on the way up. Secondly, there is an obsession with technology. It's the American way. How many bubbles were there in railroad equipment from the 1830's to say 1900? I bet three at least, and each one on higher highs. The Internet is just as big a deal. No one can convince me that the most rapidly-adopted technology in history exploded for five straight years, then stalled and grew 15% a year thereafter. I gave it to a friend today so I can't quote it directly, but the inside cover of the Brocade annual report that arrived this week has a statement that all the recorded data from human history will double in the next three years.

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