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July 28, 1997

The same mellowing effect explains the astounding conversion of Alan Greenspan from Cassandra to cooing coueite. As everyone remembers, back in early December, the Fed charman warned that the stock market was evincing signs of irrational exuberance. Last week, 1,600 points higher, the stock market, in Mr. Greenspan's considered opinion, was merely reflecting rational expectations. It's as if Paul Revere, after completing his midnight ride, saddled up again and galloped over the same route, shouting, "The British aren't coming! The British aren't coming! Back to sleep, people!"
     Alan Abelson, Up & Down Wall Street in Barron's (7/28/97)

Apple made the single largest mistake in the history of Silicon Valley when it fired Steve Jobs and replaced him with John Sculley. It took Apple 10 years to destroy what Steve had built in the first 10. . . The demand for Netscape's products is so high that Netscape can do well for a while. It stands no chance in a browser war because there will be no war. Netscape has ceded that; Navigator version 4 is known as Communicator.
     Larry Ellison, CEO of Oracle in "Betting the Ranch" from Internet World (August 1997)

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