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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: Micawber who wrote (18702)	12/12/2000 8:56:36 AM
From: SHGLaw	Read Replies (1) \| Respond to of 19700

As the overly rosy views indicated the end of the initial growth spurt of the inet, does the overly negative view signal the start of the next? Will the internet essentially disappear as an economic force: Marc Andreesen Says Amazon Only E-tailer to Survive: Comment Sunnyvale, California, Dec. 11 (Bloomberg) -- Marc Andreesen, the 29-year-old programmer who invented the Netscape Navigator Web browser and now chairs Internet services company Loudcloud Inc. says that the only Internet retailer in business now that will survive is Amazon.com Inc. Andreesen said most other companies established to sell goods over the Internet either picked the wrong products, had weak management, or failed to work hard enough to win business. ``The only etailer started up to now that will be able to pull it off is Amazon,'' Andreesen said in an interview. ``I think (their business model) worked and will work very well. They seem to have reached critical mass.'' Andreesen says that none of the ``incubator'' firms created to help develop Internet companies will succeed. CMGI Inc., one of the best-known incubators, has seen its shares drop more than 90 percent this year. CMGI Chief Executive David Wetherell said in October it would eliminate 400 to 500 jobs and reduce its portfolio companies to 15 from 17. ``Zero will succeed,'' Andreesen said of incubators. Andreesen also felt that the decline in technology stocks has gone too far, and that eventually the share prices of surviving companies will rise. He said he didn't know when that would happen, and he added that Wall Street traders didn't know that either. ``If anything the market is too negative right now,'' Andreesen said. Dec/11/2000 15:28 ET