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Subject: Re: UKNM: lastminute and tech stocks and shares
From: Cait Hurley
Date: Sat, 25 Mar 2000 14:02:48 GMT

I've been thinking recently - this might be winging it but I think there's
a grain of truth in it:

-Many old media sources love reporting new media screw ups
-The mad markup on net prices makes great news in terms of instant ten
million pound teenagers, or even more news worthy - instant ten million
pound losers

What messages to consumers does this stance mean? I've been in a few cabs
recently, and the average conversation has been - ooh, well how do I go
about buying a domain name and making my millions then, and what net stocks
should I buy?

Asking those same cab drivers if they've bought anything online, they'll
say no, but I bought the kids a PC and I think they bought something on

High Street brands (Tescos, par example) are winning because the users
don't perceive them to be shaky or dodgy in the same way that these net
stock companies are, eh? And you know your credit card number is going to
get taken by some dodgy hacker kid, doncha...

Net result: everyday consumers gettting overly interested in net stocks,
but not actually buying anything because of fear about dodgy, flaky,
overpriced companies.

I'm not quite sure what the solution is, but until old media gets a little
less hysterical everything's always gonig to be arse over tit.

As it were.

At 04:12 23/03/00 -0800, you wrote:
>I have been reading with interest the comments on the
>lastminute (and other technology) shares plummeting,
>and particularly the post analysis of why this is
>happening (lastminutes unsupportable business model
>This assumes that the financial markets work on logic.
>They dont - the value of a company is only what people
>percieve it is (and those people are usually anally
>retentive, overpaid children a.k.a traders). The world
>of trading is a closed world - and the rules and
>relationships defy any logic.
>In some ways it is comforting to know that the world
>hasnt changed at all - this kind of boom bust goes
>back to the south sea bubble and beyond.
>But just in the way that the world didnt learn from
>any of the previous bubbles bursting, so we will
>probably not learn from this.
>Good luck lastminute et al - ride the storm.
Cait Hurley | mb: +44 0771 8516943 | wk: +44 01442 882648 | icq: 1257510

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  UKNM: lastminute and tech stocks and sha, Rory Teeling

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