Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (6411)	7/29/2001 9:41:21 PM
From: KyrosL	Read Replies (2) of 74559

>>The invention of the internet [or, more accurately the telecosm and all that is linked to it and going to be linked to it] will make the invention of electricity trivial. Maurice, I agree with you. But a transforming technology does not necessarily mean profits and higher stock markets. In the short to medium term (say the next five years or so) the internet and the telecosm may prove to be profit destroyers for western corporations and a potent deflationary force. They facilitate wholesale transfer of western know-how to hungry entrepreneurial places, which don't care much about intellectual rights. And they help eliminate a good chunk of the service work force, the only source of employment growth in the West. Not good for Western stock markets. We desperately need a flood of cyberspace killer apps that make actual money to substitute for all the profit destruction. Unfortunately, all the ones I keep dreaming up result in even greater revenue and profit elimination from the 3D economy.

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