Beatrice Beaubien on 7 Apr 2001 09:32:19 -0000 |
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Re: <nettime> IBM bites bigtime |
Hi Bill, How is Winnipeg? >The thing I don't understand is this: > >At one point, Yahoo was worth more than General Motors. Now, if the >stock market isn't a complete *foma*, all that *surplus value* has >got to be in the system somewhere, right? No. That "excess" capitalisation is gone now. It was a number based on expectations and, well, faith basically. What Yahoo is worth, given that it is a publicly traded company, is shareholders' confidence. The differential between then and now has no reality in real dollars. > And it's gotta be looking >for more action... Or a different market niche. Probably blue chip (non-tech) and bonds for a while, unless interest rates drop even further. A large proportion of capital invested in tech stocks were from institutions and investors not interested in tech, just returns (and often hype). Biti >from the IBM annual report: > >http://www.ibm.com/annualreport/2000/flat/toc/2_3_1_intro.html > >> >So, we're going to invest $1 billion in Linux, and we've dedicated # distributed via <nettime>: no commercial use without permission # <nettime> is a moderated mailing list for net criticism, # collaborative text filtering and cultural politics of the nets # more info: majordomo@bbs.thing.net and "info nettime-l" in the msg body # archive: http://www.nettime.org contact: nettime@bbs.thing.net