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<< It seems that the "sage" of the Bershires got most of it all wrong, dead wrong >>

From a stock market perspective, it sure looks like that.

But while most of what he wrote was way over my head, I still believe that the general idea that most communications will move over the next generation IP networks, will turn out to be true.

Many of the startup companies may or may not have had the right idea, but they didn't have the financing to find out. The now closed capital markets put a dagger into many of the early stage companies - comapnies that need to borrow more to reach the self-sustaining point.

I continue to think the internet has and will grow very strongly. Probably all voice communications will be over IP networks in a few years. As the price continues to drop, more and more applications will emerge. Unfortunately, a lot of the investors in the first wave of the infrastucture have taken a beating.
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