Monday, October 28, 2002

Good words for the boom

Michael Lewis has a really nice article defending the Internet boom from the villification it's going through now. And I feel disdain towards the smug bankers/consultants/MBA students who sneer at Internet companies now when they themselves were 1) selling services to the companies before while 2) hating themselves for not joining in the boom themselves. Lewis points out that democratic capital is good, and there was lots of that in the 90s and technological innovation is good for the economy, even though producers (and their shareholders) tend not to capture much of the benefits for themselves.

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