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Saturday, May 01, 2004
Revenge of the F'd Companies
BusinessWeek has a satisfying cover story this week (E-Biz Strikes Again!) that contends that the surviving "dot coms (doesn't that term sound so... derogatory?) are not only up off the mat, but they're landing serious punches on other industries ripe for conquering, like jewelry (Amazon just opened a jewelry store), hotel reservations, telecom, and others. Get this:
"Nearly 60% of the remaining public Internet companies made money in the fourth quarter of last year, based on standard accounting measurements. Those profits are luring investors back to the market. Venture-capital investments topped $5 billion in the first quarter for the first time in nearly two years, while 14 Net companies are registered to go public."
Sixty percent is a darn impressive number. Well, I hate to say we told you so, but... We told you so!
I've probably said this before, but I have to say again that it feels damn good to prove the following people wrong (these idiots are in no particular order):
Naysayers; F'd Company website creators; nattering nabobs of negativism at media outlets who wrote gleeful stories ridiculing Internet companies; stupid investors; stupid venture capitalists; and, um, if I'm forgetting anyone -- you know who you are.
Posted by
Cory Kleinschmidt
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D'oh!
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