Monday, August 26, 2013

The Difference Between 2000 and 2013

At least so far, no firm that has dominated one era of computing technology has had similar leadership in the following era. This comparison has to be seen in context, given the huge run up in equity values during the "dot com" years. 

The best illustration is the drop in equity value of AOL, which mostly reflects a drastic change in market valuation, not the underlying fundamentals of the business. 

Still, the equity valuation of Apple, Google and Facebook in 2013 tells you something about perceptions of leadership a decade after the peak of the Internet bubble in 2001. 

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