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November 2000

Less Money, Better Technology

Are the vast sums of money pouring into Net ventures creating innovators who lack the character to deal with failure?

By G. Pascal Zachary

Palo Alto, Calif.-Three-thousand-dollar mountain bikes line the wide sidewalks on this town's main street. His-and-her Jaguars clog public parking lots. The local diner serves $100 bottles of champagne with burgers and fries. Three-bedroom, one-bath "bungalows" rent for $8,000 a month.

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