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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 232.08

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3:59 PM EST

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To: Jan Crawley who wrote (41471)	2/20/1999 4:14:00 PM
From: Bill Harmond	Read Replies (3) of 164684

By "leaders" I mean the ones with the most established business franchises, the biggest players with the most defensable competitive position in their subsector, and hence the greatest beneficiaries of network effects. AOL is the leading ISP, with an unassailable lead. Same with Yahoo among portals, Amazon among etailers, eBay among property exchanges, E*Trade in pure Internet brokerage, Broadcast.com in streaming-media origination, DoubleClick in advertising-sales outsourcing, TMP Worldwide in employment classifieds, Inktomi in search and cache software, and Exodus in Internet data centers.

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