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|03-23-2001, 12:00 PM||#2|
Join Date: Jan 2000
The internet economy gave a freakishly positive performance, for a while, because everybody wanted to get in on the ground floor of the "next Microsoft". Fine. They didn't.
The ridiculous stock valuations evaporated, and everyone had a lot less cash to throw around. Thus the end of the high CPM banner ads and the high payouts by most search engines.
I believe that the internet economy will grow, and support a certain number of businesses. Unfortunately, there are people who believe that the economics of the internet over the past two or three years were normal or sustainable. They will be disappointed.
It will no longer be adequate to tack ".com" onto your name for people to start throwing money at you. People will succeed through hard work, rather than some pie-in-the-sky internet-land-grab economic trickery.
The easy money is gone. If you can't deal with that fact, then you'd better make other plans. Other people are hustling at this minute to generate real products and earn the real revenue that is possible using the internet.
Oh yes. I believe the correction will have to wipe out all of the ridiculous gains and then some, before things start to rebuild. I'd be looking for a Nasdaq composite at about 1100-1500, and a Dow at about 7-8000.
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[This message has been edited by musicinsight (edited 03-23-2001).]
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