A History of Financial Levitation
- High tech. venture-capital startups
don't pay dividends
- investor return through capital growth predicated
on future profits
- Internet startups go public before
profits
- and the interest makes them instantly profitable!
- Vision becomes self-financing
- the next step in a trend toward getting in on
a good story at the earliest possible moment
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created 1997/9/18 modified 1997/9/20