The New Economy and its Winners Message Board

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Strategies & Market Trends : The New Economy and its Winners

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To: Bill Harmond who wrote (7123)	5/23/2001 9:22:39 PM
From: craig crawford	Read Replies (1) of 57684

Even Gates admits it was a bubble. Do you consider the run-up in the last few years a bubble Bill or did you find it to be totally rational? The past year, in which the value of the Nasdaq index was cut in half, high-flying dot-coms were laid low and spending on technology slowed, provided the insight that the so-called New Economy had not rewritten old economic laws, Gates said. ``How could a technology that reduces barriers to entry allow the creation of companies whose value is greater than ones that created assets in the real world where you build stores and there are barriers to entry?'' Gates said. ``That paradox has now been resolved -- there was no reason for that to take place.''

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