On Wed, Nov 07, 2001 at 05:29:09PM +0000, Fergal Daly mentioned:
> > Bigger problem that investors were pricing worth on the value of
> > "members" and "clients".
> At the time of the Surf No Limits, Freeserve in the UK was valued at 1500
> pounds per customer. We (the techies) were completely mystified by this but
> the financial people and the director types either swallowed it hook line
> and sinker or just went along with it, hoping they'd have cashed in their
> chips before the market copped on.
Of course. After all, once you give someone free internet access, you can
push all sorts of e-commerce at them - sell them anything you want, for no
sales cost (don't mind that people might not want to buy anything, or that
the startup cost for "e-commerce" - A.K.A mail order over internet - can
run into millions, if you are a stupid bastard that goes to consultants
that in a previous live sold snake oil and knuckles bones of saints).
I could not in good conscience invest in a company without a method of
having a turnover or more than it's startup capital in a year. Otherwise,
it's a long, risky process. Like the transmeta investors are finding.
Kate
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