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...wreckage has emerged a vastly different landscape, where Old Economy companies, values and business fundamentals like real revenues and profits have reasserted themselves, and where risk and euphoria have been displaced by disillusionment, caution and blame. "It was an expensive lesson," says Bernd Hardes, a venture capitalist who co-founded ECONA AG in Berlin. Says Elserino Piol, president of Italy's Pino Venture Partners: "We've come to the end of the pioneer cycle." Venture capitalists are at the heart of that change. Before the markets turned south, such folks had a clear, highly lucrative exit route from almost...

Author: /time Magazine | Title: Nothing Ventured | 3/19/2001 | See Source »

...fall of the Berlin Wall and the subsequent collapse of European communism convinced us of the arrival of a "New World Order"--which promised to create a world where the United States and Russia could achieve unparalleled levels of cooperation and where arms races would give way to capitalist competition. However, the events of the past few weeks have made it suddenly feel a lot more like 1971 than...

Author: By Nader R. Hasan, | Title: Cold War Nostalgia | 3/7/2001 | See Source »

Once upon a time, during the early throes of Russia's post-Soviet capitalist experiment, when the ascendant oligarchs feasted on the spoils of the old regime, Vladimir Vinogradov sat atop one of Russia's fattest banks and boasted of a burgeoning art collection-the prized jewel of which was a painting by the genius of the Suprematist movement, Kazimir Malevich...

Author: /time Magazine | Title: A Dark Deal in Russia | 2/26/2001 | See Source »

...true Leninist spirit, they proclaim that a "revolutionary situation" is upon us. The great masses are tired of being tyrannized by the capitalist robber barons (read: record companies) and the revolutionary leaders need only channel the rage of the masses to topple the bourgeois record companies and free humanity forever from the tyranny of the "music industry's corporate elite...

Author: By B.j. Greenleaf, | Title: The Yap of Nap | 2/20/2001 | See Source »

...problem is real. In Philadelphia, a comprehensive study showed that "racial profiling" in that city was so pervasive that a young black teenager was arrested for "standing outside a store without making a purchase." Now, I don't want to sound presumptuous, and I believe America is a wonderfully capitalist country, but I know of no statute, federal or state, that requires everyone to make a purchase when standing within 20 feet of an open retail establishment...

Author: /time Magazine | Title: What George W. Bush Needs to Do to Win the Black Vote | 2/1/2001 | See Source »

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