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Technology Stocks : Phoenix Technologies (PTEC) -- Ignore unavailable to you. Want to Upgrade?

To: John B. Dillon who wrote (3210)	3/30/1999 10:51:00 AM
From: Mark Brophy	Respond to of 3624

VCs always invest in too many companies. They don't know how to identify the winners, so they invest in 10 companies and hope that the single winner makes up for the losses in the 9 losers. It's typically a good strategy because the IPO market overvalues companies by at least a factor of 10. For example, SystemSoft and Xionics each had a market cap over $300m when they were being hyped by the investment banks and now the combined market cap is $37m. Internet stocks are overvalued by a factor of 100 or 1000. Phoenix paid $9.4m for VChips (1.1m shares * 8 ½) and $27.5m for Sand. The VCs probably invested $5-10m, so it doesn't make up for their losses in their other 18 SIP losers. They've been trumped by Phoenix, Mentor, DSP Group, MIPS, ARM, and Rambus. The public companies have done a better job identifying the winning niches and nurturing them for many years. There are no quick bucks to be made. But, it will be worth it in the long run. I'm concerned that Craig Slater left Phoenix. Clearly, he doesn't believe that the SIP group will spin out an IPO or that he won't benefit personally. I hope he has the patience to stick it out at SiCore.

To: John B. Dillon who wrote (3210)	4/6/1999 7:31:00 AM
From: Marc Phelan	Read Replies (1) \| Respond to of 3624

Phoenix gets new customer.... Phoenix Technologies' IEEE 1394 Core Licensed by C-Cube Microsystems 40th License Points to Trend in Consumer Electronics SAN JOSE, Calif.--(BUSINESS WIRE)--April 6, 1999--Phoenix Technologies Ltd. (Nasdaq:PTEC - news) -- the global leader in foundation and connectivity IP software -- today announced that C-Cube® Microsystems (Nasdaq:CUBE - news), the industry leader in integrated digital video silicon and systems solutions, has become the 40th customer to license Phoenix's® IEEE 1394 intellectual property (IP) products. biz.yahoo.com