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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 226.10+2.5%Nov 24 3:59 PM EST
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To: IceShark who wrote (34475)1/12/1999 1:25:00 PM
From: Tradegod  Read Replies (2) of 164684
 
Rumblings that the end may be near... a sample story.

I have a friend who owns a systems integration business. They were recently contracted to do some work for a public internet company. The fee was $50,000. They were then asked by the company to invoice them $400,000 for their work and turn around and advertise on their web site for $350,000. When earnings don't matter and only revenue growth does, it invites this kind of action. My friend would obviously have never advertised with this inet company otherwise.

I called a couple of my contacts at other inet companies, and they concurred that they do the same thing, saying it was "no big deal"

If revenues are based on such fraud, then some of these companies are closer to a house of cards that I had imagined. There's an interesting article from thestreet.com explaining how Softbank engineered an advertising deal between EGRP and YHOO, accounting for a great deal of Yhoo's revenue growth last quarter.

And so it goes.
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