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To: el paradisio who wrote (6225)	4/4/2000 6:30:00 PM
From: Jacob Snyder	Respond to of 11568

OT again: There are examples of private companies that totally dominated a countriy's economy, and acted as a quasi-government. Hudson's Bay Company in Canada. East Asia Company in India. There are also examples of companies whose market cap is much larger, in proportion to their home country's economy, than MSFT's. Look at Nokia and Ericcson. And, at their height, the trusts and monopolies of 100 years ago in the U.S. (in steel and oil) were far more powerful than today's monopolies, (AT&T (pre-breakup), or MSFT, or Intel). MSFT's market cap is (still) excessive, and will come down (further). But it will happen because investors will start paying less for future growth, and start pricing risk more rationally.