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To: John Donahoe who wrote (75164)	8/23/1999 1:33:00 PM
From: H James Morris	Respond to of 164684

Barriers to enter? Well, for the first occupation an attractive appearance, and personality would be nice. As for the pimps, they've got to know bull shit.:^] >>Staff Reporter of THE WALL STREET JOURNAL Drugstore.com Inc. said founder Jed Smith has left the company to pursue a new venture, and Melinda French Gates, wife of Microsoft Corp. head William Gates, has been named to the Internet drugstore's board. Mr. Smith, who is 33 years old, said he has resigned as vice president of strategic partnerships and as a director of the Bellevue, Wash., company to "form a new organization." He declined to give details. "I have some very exciting and creative things in the works that in some ways are bigger than Drugstore.com, and Drugstore.com is pretty darn big," Mr. Smith said. Mr. Smith founded Drugstore.com (Drugstore.com) in early 1998, believing there was an enormous opportunity in the largely untapped Internet-drugstore category. Drugstore.com launched its site in February of this year and was the first Internet drugstore to go public last month, when its shares more than doubled in the first day of trading. The company had a loss of $30.4 million on sales of $4.2 million for the six months ended July 4. Mr. Smith said he would continue to be an investor in Drugstore.com. His 950,000-share, or 2.2% stake, in the company is valued at $46.1 million. "I'm totally bullish on where they are going," he said. Mrs. Gates' appointment to Drugstore.com's board marks her first post as a company director. She worked for about nine years at Microsoft, Redmond, Wash., leaving as a general manager of information products in 1996, after her marriage to Mr. Gates. Mrs. Gates, 34, has been involved in health-access and education issues with the couple's philanthropic foundation and as a member of Washington's state commission on early learning. A Drugstore.com spokeswoman said Mrs. Gates' background would bring a valuable perspective to the board. Drugstore.com also said it named Martin Grass, 45, chief executive of Rite Aid Corp., as a director. Rite Aid, a Camphill, Pa., drugstore chain, owns a 21.8% stake in Drugstore.com., which gives it access to Drugstore.com's site to make Internet sales. In return, Drugstore.com gets access through Rite Aid to millions of customers with health insurance. The appointments of Mrs. Gates and Mr. Grass brings Drugstore.com's board membership to eight. In Nasdaq Stock Market trading Friday, Drugstore.com fell $1.8125 to $48.50 a share.<<