Mr. Jordan,
You state, "I mean there was no sudden paradigm shift, fabulous new invention that all of a sudden opened the possibility of a flood of new drugs and treatments."
There was a new invention, of sorts. And scientists (and analysts/investors) referred to it as a "historical and fundamental change". This was in reference to scientists newly discovered ability to clone and define human DNA genes (ie. that lamb in the UK (Dolly, I believe), genetic fingerprinting, embryo cloning, etc).
You say "This (internet) has truly transformed the culture we live in."
Commentators made the same claim you do about biotech.
It now wasn't a new ballgame, but a totally unique and limitless way to play. Scientific culture had changed, ergo human society was promised the same. No more colds! We would live to 200! This promise, or faith, fueled the entire sector like NEVER before!
Well, in about 18 - 24 months, the promises weren't delivered and the sector sank. Why? Too much promise of a brave new world. The drugs required too long to develop. Analogue - the internet will take a lot more money and time to develop into a mass practical tool. It is still too slowww for the average user, and the average person hear's the hype but is not convinced of the potential. What can the internet do for me, e-mail, pornography and buying a hard to find book. Sounds like mass appeal might take a little while to sell.
You may feel that you are on the leading edge of a promised new culture, but so did the biotech scientists preaching the promise of "smart drugs".
You also say "A whole new means of communication that has vast possibilitie and potetnial for tremendous growth." (sp.)
Tell that to the French. In France, they have had TeleFon (sic) for almost 15 years. A phone/computer hookup which allows the user to purchase goods and send e-mail. Similar, though not as graphically impressive as the Web. But it is fast. And the French use it in a limited way, they go on buying wine, cheese and Gitanes in person. This was also proclaimed a whole new way of communicating, but the French seem lees susceptible to swallowing all the hype. TeleFon, like the internet, converges existing technologies (phone and computer and television) but it is a NOT completely new way of communicating. A completely new way, for example, would be the ability to mass communicate with only thoughts. The internet is not telepathy.
I appreciate your dialogue, but we must agree to disagree.
Good luck in SEEK and your remaining stock trades.
:) |
