Word: ebay
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Dates: during 2000-2009
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...help marveling at Merrill Lynch star Internet analyst Henry Blodget. Bullish through a five-month bloodletting, he decided last week to downgrade his opinion on 11 onetime highflyers, including Doubleclick, eBay and eToys. In the case of eToys, the stock had dropped 95%. Losing any more, I suppose, would be just too much to bear. So Blodget stepped up with his gutsy downgrade while investors everywhere, in spirit, collectively asked, Who needs analysts anyway...
...spending $100 million to teach more kids to read in his native Mississippi, which ranks near the bottom in state rankings of literacy. Jim Clark, legendary founder of Silicon Graphics, Netscape and Healtheon, has pledged $150 million for a biomedical-research facility at Stanford. Pierre Omidyar, founder of eBay, has vowed to give almost all his $4.2 billion fortune to the Omidyar Foundation, which will help build the capacity of nonprofit organizations to become self-sustaining. Ted Turner, CNN founder and Time Warner vice chairman, promotes his brand of globalism through a $1.1 billion endowment for his United Nations Foundation...
...anxious promoters of a start-up company, wearing their Sears suits and begging for an investment from clench-jawed venture capitalists wearing Brioni: there is a version of this scene in the founding myth of almost every tech firm from Sun Microsystems to eBay. Venture-capital financing is as embedded in the culture of Silicon Valley as integrated circuits and $750,000 tract houses. So perhaps it's not surprising that this form of financing--and its results-oriented assessment of potential investments--has made its way to the nonprofit sector...
...which point the collision-detection computer will take over. Commuters will barrel down the highway at 120 m.p.h., with only a few inches between their car and the next. But will they worry? No, they'll be checking the NASDAQ and gabbing on their cell phone and scouring eBay until they reach their programmed exit--finally ushering in the age of fully automated motoring first promised in GM's spectacular "Futurama" exhibit at the 1939 New York World's Fair...
High tech implies progress, while low tech feels outdated. A stone wheel, an arrowhead, a shuttle loom were once high tech; today they are museum pieces. Phonographs, at one time considered high tech, are now collectibles, as are 45s and LPs. (See, for example, the offerings on eBay.) High tech becomes low tech with longevity and familiarity and as old technologies are replaced...