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Cyber economy should fear only the Euro state

    Headline: Cyber economy should fear only the Euro state Source: Euromoney Date: May 2000 Author: David Roche The high-tech stock market mania has come to a screeching halt. The US Nasdaq index is now down 20% from its highs. Does this herald the beginning of a huge secular meltdown in stocks around the […]

January 1, 2000

    Headline: Cyber economy should fear only the Euro state
Source: Euromoney
Date: May 2000
Author: David Roche
The high-tech stock market mania has come to a screeching halt. The US Nasdaq index is now down 20% from its highs. Does this herald the beginning of a huge secular meltdown in stocks around the world? I think not. On the contrary, it marks a healthy reallocation of capital away from companies of the “new” economy towards the “old”.

The major argument against this optimistic view is that the new cyber economy will destroy us all by creating competition so great that prices will collapse faster than costs.






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