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To: llamaphlegm who wrote (11896)	7/28/1998 12:05:00 AM
From: llamaphlegm	Read Replies (1) \| Respond to of 164684

SOME of Wolff's most trenchant observations come tacked onto the end of a vignette, almost as an afterthought. Of one fellow floundering entrepreneur whom Wolff watches make the fatal error of admitting to a group of investors that he will not be able to meet his next week's payroll, Wolff writes, ''And while that was true of his business and of every other business in the new Internet industry and while everybody knew it was true -- that is, that cash was just being consumed at a rate and with an illogic that no one could explain, much less justify -- you must never, never admit it.'' Therein lies the genuinely unsettling truth about the Internet, which ''Burn Rate'' lays bare. Mind-boggling sums have been sunk into start-ups, many of which have had hugely successful public stock offerings. At the same time, few have actually succeeded in generating substantial revenues. Still fewer have managed to turn a profit.