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In stark contrast to 1999, when almost anything dot-com worked, 2000 was the year in which bad business ideas got separated from good ones. The bad idea steamroller flattened more than
400 dot-coms in 2000 and pulverized more than 40,000 dot-com jobs.
But before anybody buries the Internet, consider this: There are more users than ever in more countries than ever. The U.S. Internet industry employs over 2.5 million workers, more than
the federal government or the insurance industry. And, like a rushing river, it continues to press further and further into workplaces, communities and homes.
That said, the Internet will be different in the years ahead. It will be less about hype and more about performance. It will be much faster, more mobile and more interactive.
Indeed, what happened in 2000 shows how the Internet is growing up to be:
More of a business tool--Dell Computer sells more than half of its personal computers over the Internet. Cisco Systems does more than 80% of its sales online. More than 40% of
Charles Schwab’s $961 billion in customer asssets are in online accounts.
More bricks-and-mortar heavy--In retail, brick-and-mortar mainstays Wal-Mart Stores, Gap, BestBuy and Land’s End are using the Internet as another way to reach
consumers.Through its online store, Walmart.com, Wal-Mart now reaches customers in San Francisco, New York and Los Angeles, where it doesn’t have superstores.
More mobile -- Look for extreme wireless growth during the next several years.
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