Friday, July 12, 2002

Silicon Valley's New Pessimists Talk of Pain Beyond the PC "To grasp the depth of the Valley's decline from its peak, it is only necessary to review the fortunes of the Fast 50, an annual list of the region's fastest-growing companies maintained by Joint Venture: Silicon Valley, a coalition of government, corporate and civic groups. ... Of the top 10 companies on the list in 2001, only one, eBay, was profitable in the last quarter. Two companies, Excite@Home and Exodus Communications, filed for bankruptcy protection and have since been acquired. Seven others on the list had losses in each of the last four quarters, including Commerce One, which reported a staggering $220 million loss in the first quarter of this year. Finally, the stocks of four of the eight survivors in this group are now trading for less than $1."

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