The big winners today are software start-ups that are working to make the still-nerdy Net and particularly the World Wide Web more hospitable to consumers and businesses … If the trend continues, financing for this full year might well surpass $200 million. That would be about five times as much as the $42 million that went into Internet companies all last year.
Predictor: Flynn, Laurie
Prediction, in context:In a 1995 article for The Austin American-Statesman, Laurie Flynn writes about investments in Internet companies. Flynn writes: ”As the building of the data highway appears to be well under way, the big winners today are software start-ups that are working to make the still-nerdy Net and particularly the World Wide Web more hospitable to consumers and businesses … In the first quarter of the year, Internet companies, mostly in this second category, received more than $47 million in venture capital money. If the trend continues, financing for this full year might well surpass $200 million. That would be about five times as much as the $42 million that went into Internet companies all last year … Until recently, investments in the Internet focused on building the basic plumbing, or substructure, needed to support the huge surge in traffic. Of $46 million placed in Internet companies in 1993, much went to companies like UUNet Technologies Inc. of Fairfax, Va., which is expanding the nation’s fiber-optic telephone network. UUNet went public in May after receiving an investment from the Microsoft Corp. last year. But with telecommunications giants like MCI Communications and Sprint now joining the race to build the data highway, many venture capital investors contend there is little opportunity for another start-up like UUNet. That is why venture capitalists say they are shifting their focus to software development, which also happens to be less capital-intensive.”
Date of prediction: July 1, 1995
Topic of prediction: Economic structures
Subtopic: General
Name of publication: Austin American-Statesman
Title, headline, chapter name: Serious Money Heading to Internet Companies
Quote Type: Direct quote
Page number or URL of document at time of study:
http://web.lexis-nexis.com/universe/document?_m=cd5c05b177a6a4c09351b4c920962992&_docnum=11&wchp=dGLbVtb-lSlAl&_md5=09c4a05b949fc0d8a1a3c9d4f61eb442
This data was logged into the Elon/Pew Predictions Database by: Anderson, Janna Quitney