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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 222.490.0%10:30 AM EST
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To: llamaphlegm who wrote (11896)7/28/1998 12:05:00 AM
From: llamaphlegm  Read Replies (1) of 164684
 
SOME of Wolff's most trenchant observations come tacked onto the end of a vignette, almost as an afterthought. Of one fellow
floundering entrepreneur whom Wolff watches make the fatal error of admitting to a group of investors that he will not be able to meet
his next week's payroll, Wolff writes, ''And while that was true of his business and of every other business in the new Internet industry
and while everybody knew it was true -- that is, that cash was just being consumed at a rate and with an illogic that no one could
explain, much less justify -- you must never, never admit it.''

Therein lies the genuinely unsettling truth about the Internet, which ''Burn Rate'' lays bare. Mind-boggling sums have been sunk into
start-ups, many of which have had hugely successful public stock offerings. At the same time, few have actually succeeded in
generating substantial revenues. Still fewer have managed to turn a profit.
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