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Biotech / Medical : Monsanto Co. -- Ignore unavailable to you. Want to Upgrade?

To: Dan Spillane who wrote (1909)	4/8/1999 11:19:00 AM
From: Professor Dotcomm	Read Replies (1) \| Respond to of 2539

I agree with some but not all of your points. Yes, the size of many internet IPOs seem to have been structured without any specific ideas of what the capital will be used for. We must remember though that both the company and its issuing dealers do not know whether they will have a second chance to tap the market again. What they will do with all the cash is the basis of your points. Until we know, you are right . But all this happens quite regularly. Even biotech (including 'small medical biotech firms') had their days in the sun a year or two back. However doing research, building plants or hiring a broad set of employees (perhaps unionized) smacks too much to me of the European or Japanese model. Over here research can be subcontracted remotely in people's homes or via microcompanies. That, I think, was how Silicon Valley really started wasn't it? A broad set of employees at Sony weren't able to match Connectix in the adaptation of video games to PCs. Obviously all companies cannot follow this model but capital in this area will not necessarily be unproductive.