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April 2004 — Monthly Archive

Google IPOs

So Google finally IPOs — with an approach as unusual as its approach to webmail. The founder’s letter in their S1 filing eloquently argues the case for taking the long view:

Although we may discuss long term trends in our business, we do not plan to give earnings guidance in the traditional sense. We are not able to predict our business within a narrow range for each quarter. We recognize that our duty is to advance our shareholders’ interests, and we believe that artificially creating short term target numbers serves our shareholders poorly. We would prefer not to be asked to make such predictions, and if asked we will respectfully decline. A management team distracted by a series of short term targets is as pointless as a dieter stepping on a scale every half hour.

For now, Google is probably not going to change the world, and the IPO is probably a bad idea for many investors; but for those with the pockets to take a risk, there are promises aplenty.

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30 April 2004 10:24 am

Gmail - First Impressions

I’ve been using Gmail for about