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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: John May who wrote (1018)	12/17/1997 7:35:00 AM
From: DarrenS	Read Replies (1) \| Respond to of 164684

In the meantime, how many of those locked shares which were once worth a few dollars have been unlocked yet? It would be hard for me to sit on a 25 + bagger in this uncertain climate. I realise we are just seeing the beginnings of the internet new world order, but Barnes and Noble is established and once it tunes into the internet it will out compete amazon. I liken it to the battle between netscape and microsoft over browers, microsoft has out gunned netscape. Barnes and Noble will do the same to Amazon. If I had the spare cash, I would buy puts big time on this, or sell short, but unfortunately I will not be able to take a position here. Good luck!!

To: John May who wrote (1018)	12/17/1997 9:50:00 AM
From: Oeconomicus	Read Replies (1) \| Respond to of 164684

The point is "ahead of everybody's expectations" and "bigger deal than the PC." John, You should look a little closer at the early '80s. There's a long list of "leading edge" companies that were hot in 1983 only to disappear by 1985. Some got bought, but many failed. Ever hear of Osborne Computers? Not sure what happened to Altos. And, if not for the PBS show "Revenge of the Nerds", few today would know that Jobs and Wasniak did not invent the microcomputer. The guy who built and sold the first left the industry and went back to med school. The point is that in a rapidly growing and evolving industry, the early leaders usually don't win the race. Many don't even finish. Controlling a technology helps (see MSFT), but the best technology doesn't allways win (see MSFT again). As for AMZN, they can't even lay claim to any technological advantage. In the long run, all that matters is making money. With AMZN, that possibility is far off in the future and even farther from a certainty. And even if they do eventually prove the model, valuations matter and the truth catches up to the hype. Bob