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To: Bill Harmond who wrote (88614)	12/26/1999 7:31:00 PM
From: GST	Read Replies (1) \| Respond to of 164684

OK. So I go back to this idea that there are aspects of business on the net that yield higher potential margins -- given a strong brand, an early start, strong management and a scalable technology which provides leverage as the firm grows. There must be something about the net that allows these margins to exist in the face of competition which would otherwise drive margins down to 1% -- this is the bet on the nets -- yes? This is why the net beats bricks and mortar. It scales up well -- yes?