Craig, interesting comments from Andy Grove tonight.
Regards,
Tom
LOS ANGELES (May 23) -- Companies that have yet to go online should do so now, or they will fold within a few years, the chairman of Intel Corp. warned investors at a business survival seminar.
''In five years, there won't be any Internet companies because they will all be Internet companies,'' Andrew Grove, head of the world's largest maker of computer chips, said Saturday. ''Otherwise they will die.''
Intel, which Grove helped found in 1968, has seen its Internet business grow from zero percent in 1997 to a projected 42 percent this year, he said.
Even junkyards have gone online, acquiring cars, stripping them of parts, cataloguing them, and then filling Internet orders from all over the country, he said.
Buyers and sellers don't even have to talk to each other at the same time to conduct business online. Thanks to e-mail and other devices, they can communicate regardless of time or place, extending the business day.
But simply being online isn't enough, Grove said, as he cautioned investors that many Internet companies that are getting a lot of publicity now won't be around for the long haul. Those that survive will employ traditional business tenets, like being customer oriented, he said. (my comments: PCLN lacks customer service, the worst customer service I've encountered. Everybody, try calling PCLN and letting us know how long you are put on hold)
Grove spoke at the third annual Los Angeles Times Investment Strategies Conference at the Los Angeles Convention Center. |
