Hey! Who unplugged the incubator? I mean, it's getting awfully dark and lonely in this Internet venture capital space. Brrrr. It's cold, too. Mommy? Blanky?
As the all-but-forgotten warming plate to the Net's fallen stars, one would expect that CMGI (Nasdaq: CMGI) would have a hard time winning you over right now. After all, the best way to become a dot-com millionaire lately is to start off as a dot-com billionaire.
But, I don't hear anyone belittling the medium itself. You can't whistle by the grave site of what isn't dead. The Internet, as your eyes see before you, is alive and well. It's the funky business models and the irrational exuberance that has gone obit city. Fine. CMGI might have been dinged in the process of the mercy killing, but it's actually in much better shape now, with the froth blown clean off.
The online promise of convenience and experience personalization remains as true today as it did before wired stocks became a penny-stock minefield. Investors just have their fingers crossed behind their backs when it comes to faith in specific entity viability. Fancy that. All dot-com stocks were great before. Now even the quality names are rubbish.
We are essentially back to where we were a few years ago, with a few more shades of jaded colored in. We can't deny the Internet revolution, yet we're too consumed with the risk to appreciate the bounty that awaits the victors. It's a shame, because researcher Jupiter Media Metrix (Nasdaq: JMXI) still expects consumers to spend $86.3 billion online come 2003 -- four times what was spent last year -- to say nothing of corporate spending. Those still standing are going to get thicker slices. CMGI should know; it expects revenues to grow by 80-90% in fiscal 2001 to about $1.7 billion.
As the all-but-forgotten warming plate to the Net's fallen stars, one would expect that CMGI (Nasdaq: CMGI) would have a hard time winning you over right now. After all, the best way to become a dot-com millionaire lately is to start off as a dot-com billionaire.
But, I don't hear anyone belittling the medium itself. You can't whistle by the grave site of what isn't dead. The Internet, as your eyes see before you, is alive and well. It's the funky business models and the irrational exuberance that has gone obit city. Fine. CMGI might have been dinged in the process of the mercy killing, but it's actually in much better shape now, with the froth blown clean off.
The online promise of convenience and experience personalization remains as true today as it did before wired stocks became a penny-stock minefield. Investors just have their fingers crossed behind their backs when it comes to faith in specific entity viability. Fancy that. All dot-com stocks were great before. Now even the quality names are rubbish.
We are essentially back to where we were a few years ago, with a few more shades of jaded colored in. We can't deny the Internet revolution, yet we're too consumed with the risk to appreciate the bounty that awaits the victors. It's a shame, because researcher Jupiter Media Metrix (Nasdaq: JMXI) still expects consumers to spend $86.3 billion online come 2003 -- four times what was spent last year -- to say nothing of corporate spending. Those still standing are going to get thicker slices. CMGI should know; it expects revenues to grow by 80-90% in fiscal 2001 to about $1.7 billion.
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