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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 221.24-0.6%Dec 17 3:59 PM EST
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To: Bill Harmond who wrote (131733)9/27/2001 8:48:49 AM
From: H James Morris   of 164684
 
"Life is risky. You can decide to live your life afraid of that happening, or you can decide to live your life the way Americans live their lives, which is unafraid. There's no reason to have this increased fear." — New York Mayor Rudolph Giuliani on the terrorist attacks.

A tough business in a tough economy. That's about the sum of it from two top venture capitalists speaking yesterday morning at a breakfast sponsored by Dean Yash P. Gupta of the UW Business School.

Tom Alberg and Greg Gottesman of Madrona Venture Group laid out a grim picture, but also said there were companies that continue to interest them. How grim? Technology companies in the Northwest have lost 92 percent of their value and have laid off 13,000 workers. Over 20 companies failed in August alone.

There is still plenty of money out there. The National Venture Capital Association said there is an "overhang" of venture capital funds, estimated at approximately $45 billion at the end of the second quarter of 2001.

Where are VC's looking? Some key areas include Internet-security companies, storage and backup, data management, performance enhancements and the "last mile," the continuing need to connect broadband communications to homes and businesses.

Both Alberg and Gottesman say they will continue to support new, young companies.
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