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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 217.15-2.5%3:59 PM EST
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To: Bill Harmond who wrote (138443)2/3/2002 10:55:45 PM
From: GST  Read Replies (2) of 164684
 
In his speech, Gates contrasted the Internet stock-fueled "mania" on Wall Street that hit a dead-end two years ago to the current economic environment, and argued that the high-tech economy, in particular, still had further excesses to burn off.

"There are still some companies out there based on the old thinking," Gates said. He was referring to business models that dominated in the late 1990s that assumed a nearly unlimited supply of capital and no immediate pressure to make profits.

"The sobriety will stay, the somberness will stay. It's very healthy ... I like this period where people are forced to play by rules driven by economic sense," Gates said.
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