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To: badon518 who wrote (12423)	8/7/1999 4:10:00 PM
From: Scarecrow	Respond to of 19700

Don't forget NaviNet, Navisite... and the professional services thing they're starting, and the broadcast venture as well (which is more infrastructure than content, I think), ENGA is infrastructure, too. The Raging Bulls, Ancestrys... I'm a LOT less certain about those, but they seem to be doing well. Maybe we should have a theme here: Friends don't let friends buy garden.com (or drugstore.com, or KOOP, or...) Interesting point about the WACC angle on interest rates. I wonder if DW, Andy et. al. use that as leverage in getting better valuations on their investments. I'm not qualified to answer it, but it's a great point. Best, Scarecrow