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To: HG who wrote (53983)	4/29/1999 1:55:00 PM
From: Glenn D. Rudolph	Respond to of 164684

Intel's Grove ponders future of Internet favorites WASHINGTON, April 28 (Reuters) - Intel Corp. <INTC.O> Chairman Andrew Grove questioned Wednesday whether the Internet companies so highly favored by the stock market could mature into self-sufficient companies. Drawing a parallel with government-sponsored semiconductor companies that sprouted around the world in the 1970s, Grove said the most popular Internet companies today essentially had access to free money. Speaking via teleconference to an Economic Strategy Institute conference in Washington, Grove said Intel and most of its commercial cohorts survived the nationally-sponsored challengers. "It remains to be seen whether the Internet companies that have essentially infinite access to capital will be able to grow up to be self-sufficient institutions and adjust to a future when money won't be free," Grove said. Not that Grove thinks the Internet model of doing business is fundamentally flawed. Far from it. In five years people won't talk about Internet companies because the technology will be a normal part of successful businesses, he predicted. "All companies will be Internet companies or they won't be companies," he quipped. Speaking at the same conference, America Online Inc. <AOL.N> Chairman Steve Case said there was a recognition among investors that the Internet would have a fundamental impact on the economy, like the telephone or the automobile did. "There really is an enthusiasm to play here," Case said of the huge stock market valuations. "Everybody's trying to predict the future and who will be there at the finish line."