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To: Jon Stept who wrote (14895)	5/25/1999 4:31:00 PM
From: Vitas	Read Replies (2) \| Respond to of 99985

Jon, the number of successes or failures in the internet industry will ultimately be important, but what is germane now is that we just had a speculative bubble peak in April, and they are all going down. In the 1992 biotech bubble, one of the ultimate survivors, Genzyme, corrected 2/3 before the price came back. Many of the others never returned. Vitas

To: Jon Stept who wrote (14895)	5/25/1999 4:42:00 PM
From: j.o.	Respond to of 99985

**OT - Jon, I get what you're saying, I think. I just missed the specific point in my reply. I think that a higher percentage of internet companies will fail than in most other industries (with the possible exception of bars, restaurants, etc., where it appears that people also seem willing to ignore the odds of success - perhaps this has something to do with the scale of the restaurant business, and the ability of one individual to create a new restaurant, even against suggestions of those around him/her). My reasoning is that, like with restaurants, it is too darn easy at the moment to get financing to build your own internet company - that brings a lot of bad companies forth, along with all of the good. It just so happens that I am part of the internet "gold rush", in a manner of speaking. I am working with others to create a company which provides a service that I think will be in high demand. I certainly hope that the concept works - but I hope to at least have built the company for the right reasons (i.e. to run it successfully) instead of building it to sell to the first mad bidder. Sometimes I feel like the exception :) Regards, j.o.

To: Jon Stept who wrote (14895)	5/25/1999 6:43:00 PM
From: still learning	Read Replies (2) \| Respond to of 99985

Diff between the food industry and the inets is that in restaurants, usually the public doesn't invest heavily at the outset. Second, they aren't a bunch of well capitalized companies. The other comparisons are certainly valid, but don't change the fundamental point: no one panics if 100 restaurants go out of business because only the owners and a few friends/partners have any skin in the game. Pardon my jumping in, but that's what a thread's all about ;}