Word: tech
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Dates: during 2000-2009
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...norm in and around MIT and Kendall Square are high-tech firms housed in office buildings that have taken over Broadway Street, coming ever closer to the campus itself...
Kenny's firm, which he co-founded with Jonathan Cheng, is known as an incubator and is critical to the development of Internet businesses. Think of such companies as corporate foster parents whose experts nurture Netrepreneurs so they can make it on their own. Strong on tech but sloppy on marketing? Probe the incubator's contact book. Big on vision but clueless on execution? An incubator can find just the right manager...
Another increasingly ubiquitous, albeit less visible high-tech object is the smart card. Many a European wallet now includes one or more cards embedded with a memory chip, which may hold anything from a cash balance to be spent on small purchases to personal information that reduces the possibility of credit-card fraud--or even, as in France, a complete medical history. Three French companies produce more than two-thirds of the world's smart cards, a $12 billion business set to explode as companies discover the limits of the familiar magnetic-strip card, which can hold relatively little information...
...Brussels-based research firm, tracks the growing number of European companies that are winning shares in the global-technology markets, creating jobs and wealth with innovative products, aggressive acquisitions and smart niche strategies. Its latest list shows that 127 of Europe's 500 fastest-growing companies are from the tech sector. These companies boast an average annual growth in revenues of 42% and in employment of about 36%. Among the strongest sectors are smart cards, encryption software, e-commerce software, electronic games and digital television...
...tech-stock frenzy took a new twist last week with the IPO of Palm Inc. On the first day of trading, the PDA division of 3Com Corp. became more valuable ($53 billion) than its parent company ($28 billion), even though 3Com still owns 94% of Palm's stock. If you got in late, you got hurt. Palm fell 16% on Friday, to $80.25. 3Com, after falling 21% on Thursday, closed the week at $83.06. This week the arbs move in. Careful...