Just in from Gilder's new recovery-thrust:
""Suria's clearly a smart guy, but it's still a little early to call "game over". Lumping in the aggressive IP carriers---who have, by and large,
executed beautifully---with the failed, mismanaged CLECs and ISPs (Covad,Northpoint, Rhythms, PSINET, etc.) is good for shock value, but may not be compelling taxonomy. The data CLECs, in particular, were all hat and no cattle, dependent on mandated RBOC largesse and government stupidity for their birth and continued existence.
"Suria, a bond analyst, has a very sharp pencil and is quick with historical numbers, and some of what he says will probably turn out to be true; but could he wind up the Henry Blodget of the dark side? Suria's point, by the way, that excess equity funding keeps you mostly out of trouble is probably lost on the folks who watched billions of
dollars get vaporized by debt-free dot.coms."
MartinT |
