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To: Dennis O'Bell who wrote (55176)	1/7/2001 10:53:56 PM
From: KeepItSimple	Read Replies (1) \| Respond to of 436258

Blah blah blah. Next you'll tell us that internet stocks are only in the second inning of the world series and we should take a long term outlook for Etoys and Amazon. (disclaimer i was the lead underwriter for Etoys, and "long term" doesnt apply to the underwriters or insiders, who simply want to diversify their holdings for tax purposes) Just because something is revolutionary doesnt mean the market isnt an overvalued piece of shit. There were over 500 automobile companies by 1950. There are 3 now. There were about 500 public internet companies as of the end of this year- can you pick the 3 that will survive? --------------------- The auto changed the world, but the information age will change it a lot further and the world will be just as unrecognizable several generations out.

To: Dennis O'Bell who wrote (55176)	1/7/2001 10:58:11 PM
From: Efthymios H. Zacharias	Read Replies (1) \| Respond to of 436258

No doubt. However the importance of the steam engine or the internal combustion engine or electricity or the phone didn't save investors from a terrible bubble that ruined most of their dreams of a new era and easy riches. And nor has today's information age saved investors from a far greater bubble that is in the process of bursting. All these bubbles achieved their peaks and collapsed long before the ultimate benefits of the innovations that produced them became widespread. Investors have a tendency in times of euphoria to overreach and discount good things far into the future - further than their own lifetime. We discuss here not the merits of our progress but the possibility of such to turn our dreams and hopes into wealth. And it appears at today's valuations that investors will have to wait for the next technological revolution to unlock wealth from their misguided investments.

To: Dennis O'Bell who wrote (55176)	1/8/2001 12:06:34 AM
From: chic_hearne	Respond to of 436258

History will likely prove you wrong.... ...The auto changed the world, but the information age will change it a lot further and the world will be just as unrecognizable several generations out. You're logic is flawed. Back in the 1920's, no one could comprehend an idea like the Internet. Much like today we ask ourselves what more can be done besides the information age? The truth is that as a civilization we have always been evolving and will continue to evolve. The next big development is probably something that none of us have even thought about yet. This bubble is no different than any of the preceding ones and future bubbles will be no different either.

To: Dennis O'Bell who wrote (55176)	1/8/2001 7:48:51 AM
From: Mike M2	Respond to of 436258

Dennis, re: " history will prove me wrong" nowhere in my note do I make a prediction about the magnitude of impact technology in the future I simply wanted to remind people of the profound impact the internal combustion engine had on society and its productivity. mike