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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: Fred Gohlke who wrote (8899)	8/11/2000 9:37:58 AM
From: dgurgel	Read Replies (1) \| Respond to of 10081

Patents, Smoke and Mirrors I think GMGC's patents are worth little for the following reasons. 1. I agree that software patents are not worth much in general. 2. In VUI, innovation was most needed in the VR and TTS, modules where GMGC no longer claims proprietary expertise. 3. GMGC is not even trying to sell patented technology like Nuance or LHSP so I conclude they have little to offer. 4. There are few scientists and top developers visible at GMGC these days. Of all the people on the site in the management team, only Markman and Lange have top engineering or scientific credentials. 5. Many posts and some news releases from the early days up through perhaps 1999 mentioned GMGC's agent technology. They seem to have been innovation there, but that work was largely done before the Internet and before XML. 6. Nuance, Tellme, Onevoice and others are storming into this market without regard for GMGC patents. 7. GMGC does not have the cash to continue research and development. IBM, first signs of smoke and mirrors - 1. IBM was announced at the same time as the Global Services Network deal and both were called "strategic." Global Services is a tiny insignificant player which can not afford to pay cash. An IBM relationship should have been in a class by itself if it was a serious venture for IBM. 2. The long delay from the March 8 promise until the start of any IBM/GMGC sales efforts suggests problems. (IR told me this week it will be underway in the near future.) 3. The lack of a contract with IBM suggests either a problem in the development of the relationship or at least a rather loosely formed relationship. 4. SVP Kilian's long comments on the IBM "distribution channel" with nothing specific. It sounded like GMGC is just one more product on a high shelf of IBM's "Home Depot." 5. The lack of any up-front payment by IBM for license or development. 6. The lack of forthrightness on the Bellsouth trial in comments at the August 2 CC suggest that "smoke" is an option with Dr. Markman. 7. Juno was announced this year and the word "strategic" was used, yet it disappeared with no further comment. 8. More and more the word "strategic" itself is a weasel word (and not just at GMGC). Instead of a "strategic deal" it is better to hear a "$100 million deal." I take the word to mean "there is no provision for the payment of any dollars to GMGC at this time."