<<Expect that AOL is going to kick our butts.>> I do expect that AOL is going to kick ATHM's butt, which is why I am invested in AOL. I also expect that ATHM is going to kick AOL's butt, which is why I am invested in ATHM. OTOH, I expect MSFT to kick AOL and ATHM's butt, so I am in that one as well :-) Since I am not smart enough to know who the eventual winner will be, I like to load the bases. The problem is knowing the right split. Fortunately, it is not a zero-sum game at this stage, so it is great when they all go up.
Seriously, though, ATHM has an obvious BTE with its bandwidth, but there is no secret that AOL has bandwidth as one of its top priorities. Once it achieves that, whether through ADSL or cable, there will be a lot of pressure on ATHM. OTOH, ATHM is not going away, not with its existing and growing cable share. I think over the next five years there will be plenty of room for both companies to grow. |
