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Strategies & Market Trends : Buffettology
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To: Chuzzlewit who wrote (862)12/29/1998 11:11:00 PM
From: Shane M  Read Replies (1) of 4691
 
Chuzzlewit,

The primay problem I have with e-commerce right now, is that it's still to darn hard to find what you want to buy on the net. It's slow too. I think business to business opportunities will be greater, and there's alot of efficiency to be gained, but I don't think internet retailing model will translate well into many consumer areas - at least until bandwidth improves substantially (my 28.8 connection isn't even close) to equate browsing on the internet to flipping through a mail order catalog.

The point is a good one to ask, however, becuase it forces us to address the nature of competitive advantage in the age of the internet, and how this will impact franchise value. One case in point: Right now we are seeing the internet commoditize equity trading and information - eroding the franchise value of many brokerage houses. Another industry about to be impacted IMO is banking. Banks that don't embrace the internet are risking alot now in my opinion. Insurance companies (and I work for one) also have alot to fear as comparitive pricing through the net will become much much easier in the years to come - it's already happening for life insurance (quotesmith), and Property and Casualty insurance is seeing test markets for multiple quotes for auto/home insurance..

Shane
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