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Technology Stocks : George Gilder - Forbes ASAP -- Ignore unavailable to you. Want to Upgrade?

To: Morgan Drake who wrote (1381)	4/29/1999 8:27:00 PM
From: JMD	Read Replies (3) \| Respond to of 5853

Morgan, fair enough and I take your points [except that I think if you got off for only $400 for your kids arm, I'd like a reference to that hospital :-) Still, I THINK George Gilder's point is that there will soon be a hospital on every street corner and that if one attempts to charge $X to cover their fixed o/h, you and I will tell them to stuff it and zip across the street. I'd like to recommend the current issue of Forbes which has on its cover a picture of the Global Crossing CEO and the banner: 'Betting on Bandwidth'. Forbes is the first non-technical magazine that I've seen to openly discuss the coming bandwidth superabundance: they were throwing around figures like a 400X multiple in 2 years, that's right: 40,000% Now we all know that ain't gonna get to your desktop at home or work in that time period, but there doesn't seem to be much doubt that an absolutely massive flood of b/w is on the way. Forbes even got the Level 3 guys and others to admit that they were going to light their fiber capacity only as demand developed, and, more interestingly, that if they lit all that was currently available the market price for b/w would collapse. [they ain't stupid enough to do that of course plus lighting the stuff costs big time buckeroos, so it won't happen soon, but I found it fascinating that there's ALREADY enough fiber in the ground to contemplate an oversupply situation.] Anyway maybe you're right and financing will dry up for new b/w investments and so the owners of the "franchises" will effectively lock out further entrants, but you got some big gorillas in the ring: Teledesic, Loral, Qwest, Global Crossing, Teligent, Winstar, Level Three, AT&T, Corning, Alcatel and I'm leaving out dozens more. I'll be happy as hell as a customer; I'm just trying to figure out how to be happy as hell as an investor. best, Mike