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Technology Stocks : George Gilder - Forbes ASAP
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To: Sam Citron who wrote (268)10/29/1997 9:22:00 PM
From: George Gilder  Read Replies (2) of 5853
 
Rockefeller is a hero of mine; he reduced the cost of petroleum
products by some 90 percent by applying technology and systems
far more resourcefully than his rivals, who then of course accused
him of monopoly tactics et al. Bernie Ebbers will reduce the cost
of telecom by a similar measure, in competition with all the Bells
and such, and of course he will be charged with monopoly tactics. But
all business innovation creates monopoly at the outset; indeed,
all business is the pursuit of transitory monopolies. Gates' will
also prove transitory. But the idea that Worldcom, with less than
one percent of global telecom revenues, is an antitrust threat is
ludicrous and people in technology should not give the government
and encouragement on this issue.
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