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To: Mike MacNaughton who wrote (6567)	6/26/1999 1:09:00 AM
From: John Madarasz	Read Replies (1) \| Respond to of 10081

Mike, You make some frighteningly good points that I can't answer. I can't say say that I question my investment here because for some strange gut feeling, I think it will go. Don't ask me why, because the NUMBERS certainly don't point towards a solid investment, but I just think this company will one day rock. This is an esoteric concept that will capture huge marketshare one day soon. As an investor a certain modicum of cojones are required, This is the place to be. Believe it or not. All the very best, John Madarasz

To: Mike MacNaughton who wrote (6567)	6/27/1999 5:23:00 PM
From: Michael Feldstein	Read Replies (1) \| Respond to of 10081

>>Now, GMGC is giving away a product... You could say, I suppose, that GMGC is "giving away" the product in the same sense that Yahoo! or, for that matter, NBC "gives away" their product. All these companies "flow cash" by selling ad space. It's a tried and true business model. What we don't know yet is how much GMGC can charge for the ad space. Subscriber numbers will be critical in this regard, which is probably why they are "giving away" subscriptions.