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March, 2001: Assessment at end of E-Commerce I
“ Everywhere we look, the once-limitless promise of the Internet appears to be fading. The dot-coms that were supposed to topple industry giants have mostly vanished. The last of the Net's bluest-chips are on the ropes . No. 1 e-tailer Amazon.com Inc. can't extract a profit from its $2.8 billion in sales, leading some to predict it will run out of money . And on Mar. 7, one of the few profitable Web companies, portal Yahoo! Inc. (YHOO ), said it would badly miss sales projections for the first quarter. Internet stocks are in free fall , many of them lucky to top a buck a share--sending billions of dollars of investment up in smoke.” (Michael Mandel and Robert Hof in Business Week, March 26, 2001)
“ First, the Internet was supposed to change everything. That's just plain wrong . The reality is, there was no way that a single technology could fulfill such an extravagant promise...
But clearly in much of the economy , the Internet offers incremental payoffs without substantially altering core businesses ...
Strip away the highfalutin talk, and at bottom, the Internet is a tool that dramatically lowers the cost of communication . That means it can radically alter any industry or activity that depends heavily on the flow of information .” (Michael Mandel and Robert Hof in Business Week, March 26, 2001)
Chapter 13 Auctions, Portals & Search , and Communities