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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 229.12-0.2%Nov 26 3:59 PM EST
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To: Glenn D. Rudolph who wrote (31312)12/27/1998 2:58:00 PM
From: KeepItSimple  Read Replies (3) of 164684
 
Glenn, I wonder how long until a similar "tombstone" article can be written about the internut stocks?

People don't seem to understand that the internet CAN BE A MAJOR FACTOR IN THE FUTURE, but it has no more effect on a company's bottom line than any other revolutionary technology.

Did the first companies to get telephone lines watch their stock price triple every week because they could now accept orders from all over the country?

Did all the other companies, who were *gasp* 2 or 3 weeks behind some other company in getting their new fangled phone lines, go out of business?

NO. Listen people, and listen good. EVERYONE VERY QUICKLY GOT A PHONE LINE. The "newness" never played any role in whether or not a company thrived or failed, because EVERYONE HAD THE TECHNOLOGY. Competition continued to be based on merit and profits, not who had the phone line first.

Do you understand? EVERYONE HAS THE TECHNOLOGY. Websites for ecommerce can be thrown together in several months by any self-respecting team of programmers. Being first in this "industry" of companies who have phone lines isn't going to mean a damn thing 12 months from now.

But I guess when you're a newbie and seeing letters appear on your screen is still a novel concept, you might be easily convinced to place a market order to buy Amazon for 17 billion dollars.

Just as you probably bought a Hard Rock Cafe t-shirt for 17 bucks. Or perhaps planet hollywood shares for 33 bucks? Restaurants still exist (like the internet will) but overpriced and overhyped fads can appear and collapse within a subsection of any industry.
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