[FT] Over Half of U.S. Logs On

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From: Adam Rifkin (adam@KnowNow.com)
Date: Fri Aug 18 2000 - 22:23:38 PDT

Live from the sweet spot of the hockey stick curve...


> Over half of US logs on
> By Andrew Heavens in San Francisco
> Published: August 18 2000 03:35GMT
> The number of US households with internet access passed the 50 per cent
> mark in July as people took advantage of cheaper personal computers and
> web access, according to figures released on Thursday.
> Nielsen Netratings, the statistics service, said nearly 144m US
> residents could get online from their homes last month, a 35 per cent
> increase on July 1999.
> The group said there was also evidence that US residents were becoming
> choosier about where they spent their time online.
> More people than ever logged on to the internet. But, on average, they
> visited fewer sites.
> Peggy O'Neill, a Nielsen Netratings internet analyst, said: "People have
> found their favourite sites and they're sticking to them. It's going to
> get increasingly difficult for new sites to win people's attention."
> The survey, based on a poll of 3,000 households, showed that US users
> spent nearly 10 hours a month online in July, up 26 per cent from a year
> earlier.
> But they only visited an average of 10 separate websites, compared with
> the 12 they clicked on in July 1999.
> AOL's network of websites were the most popular destination for
> home-based surfers, with Yahoo!, the web portal and Microsoft's MSN
> sites coming in second and third.


They're losing sleep about the long-term earnings dilution caused by option-granting. Given the rate at which some of these companies are doling their shares out, they can't make the numbers add up. They're on a treadmill, and every year the treadmill gets churned up a notch. It's hard for companies like Yahoo and Amazon.com to come up with a scenario that they're ever going to have momentum in their earnings per share. -- Patrick McGurn, from "Stock Options Hurting Some Firms' Profits" by Matt Marshall, http://www.mercurycenter.com/svtech/news/indepth/docs/opt081900.htm

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