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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (20276)	6/26/2002 5:14:53 AM
From: Raymond Duray	Respond to of 74559

Re: I was only caught in the Globalstar collapse [which was a LOT of fun - more than I ever dreamed I'd have]. I'll be sure to invite to my next S&M party. Interestingly, I was a Gilder subscriber just when the GSTRF ship was going down. I made a trip to Mecca, er, Silicon Valley, to meet a bunch of other deluded wannabee wonks who were drinking the Gilder Kool-Aid. The fellow who hosted a day long seminar on his back patio with 50 or so seemingly astute "investors" was a very high IQ engineer with mega-credentials, copious industry experience in semiconductor equipment manufacturing design and he visited the Globalstar base station in Sunnyvale just before our gathering, the "Gilder Gabfest" as I labeled it. He was effusive about the technological wonder of it all. He couldn't praise the whole thing enough. He was convinced that although he was down 80% at the time that the technology was too wonderful not to be a complete blockbuster of a success. Timidly, from the back of the audience, I raised my hand. I asked him if it were true that after six months of public service they'd managed to secure a mere 25,000 paying customers. Well. The silence was deafening. I immediately became persona non grata. How could I think to introduce such a concept. Customers? What are they for? -Ray