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“But there is a broader lesson as well companies and investors need to focus on business models that can be sustainable over the long term in the real world economy. A common trait of many of the companies that failed is that they gave away for free or at a loss the very thing they produced that was of greatest value in the hope that somehow they’d make money selling something else. The Internet, for example, was full of sites producing content for free, in the hope that somehow they’d generate revenue from sources that never materialized, whether it was advertising, subscriptions, or a wing and a prayer. As we’ve learned or really re-learned one can’t build a business or our economic future on that type of flimsy foundation.
– Prepared Text of Remarks by Craig Mundie, Microsoft Senior Vice President The Commercial Software Model, The New York University Stern School of Business, May 3, 2001
[I corrected some of the spelling errors; grammatical errors left intact, I hope it is still comprehensible. I guess this means that Google does not exist by Microsoft’s opinion.]