China Venture News reports a meeting which recalls the China internet investment that mad, mad Blodget/Meeker world of 2000 and dotcom bubble 1.0. At the 2nd China International New Media Forum, Morgan Stanley's Richard Ji apparently told delegates that "China's Internet market is on the verge of entering a 'best investment' period".
My sense is that, once the money men start making those calls, they have either already made all the upside they believe they can hope to and are looking to sell or have become caught up in the irrational exuberance of that heady brew of China and Internet mixed in equally intoxicating parts. The post quotes Ji as saying "Cable TV and Internet are the coming gold mines for the Chinese market and the media carriers have to strengthen the content and expand distribution channels to improve profit."
It goes on to note that "Paid Internet searching increased profits by 60%" last year.
Caveat emptor.
Tuesday, June 26, 2007
Time to sell?
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