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

To: KeepItSimple who wrote (41337)	2/20/1999 1:42:00 AM
From: Bill Harmond	Read Replies (2) \| Respond to of 164684

>>disposing of literally hundreds of pounds of junk That's what eBay's for.

To: KeepItSimple who wrote (41337)	2/20/1999 2:59:00 PM
From: Glenn D. Rudolph	Respond to of 164684

The Internet Capitalist SG Cowen's Companion To Internet Investing February 19, 1999 Scott Reamer: 212.495.7769 reamers@sgcowen.com The Week ................................. 2 Web Wreck Merrill Lurches Toward The Inevitable Trend Watch ............................ 4 Don't Believe The ‘Price Is King' Thesis Content: Disseminate or Populate? Company Watch ...................... 8 Amazon.com (AMZN - $98) America Online(AOL - $159) Yahoo (YHOO - $135) Observations ................................... 11 E-commerce Evolution Continues Apace VC Investment Remains Strong Valuation Watch ............................. 12 Knowledge Is Proud; Wisdom Is Humble The Calendar................................... 14 Data Bank ....................................... 16 The SG Cowen Internet Universe..... 19 “The Internet Capitalist" is published every two weeks by the SG Cowen Internet Research team and is distributed through email, First Call and fax. This companion piece attempts to place both anecdotal and concrete data within a thematic context that will help institutional investors gauge where the greatest shareholder value will be created over time in the Internet universe. And though we certainly subscribe to the notion that “less is more”, we have included a broad array of issues within this piece, the underlying logic being that successful Internet investing necessarily demands a wider, not narrower, view of these stocks and the issues that drive them. Additionally, since the Internet is also a democratic medium at heart we encourage feedback. Suggestions, challenges, criticisms; all are welcome. Our hope is that this piece will offer, on balance, greater utility for the one commodity with any real value: time. SG Cowen Securities Corporation makes a market in AMZN, NSCP, YHOO, DCLK, and XCIT securities. SG Cowen Securities Corporation co-managed an offering of AOL and DCLK securities within the last three years. To be included on the distribution list simply send an email message to infomail@sgcowen.com with the phrase "subscribe capitalist" in the body of the text, contact your SG Cowen institutional salesperson, or a member of the research team. Should you be moved to un-subscribe yourself from the list, send an email to infomail@sgcowen.com with the phrase "unsubscribe capitalist" in the body of the message. Further information on any of the above securities may be obtained from our offices. This report is published solely for information purposes, and is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any state where such an offer or solicitation would be illegal. The information herein is based on sources we believe to be reliable but is not guaranteed by us and does not purport to be a complete statement or summary of the available data. Any opinions expressed herein are statements of our judgment on this date and are subject to change without notice. SG Cowen , or one or more of its employees, including the writer of this report, may have a position in any of the securities discussed herein. The contents and appearance of this report are Copyright© and Trademark™ SG Cowen 1998. All rights reserved.