Ryan Jacob Quotes (15 Quotes)

The biggest change in the past five years is that you can find very reasonably priced companies and most are making money. That's obviously a big change from the late 90's when these companies were just starting out.

Everyone's expecting, and should expect, that these companies will continue to post very impressive gains. A lot of these companies are still growing 30-50 percent per quarter. There will be other issues that people will be looking at. With Yahoo, it may not be just revenues, it may be page views. With an Amazon, it may not just be revenues, it may be number of new customers they've acquired over the last quarter.

Something has changed (with Internet investing). You don't have the craziness of a wild IPO market.

Well, eBay is growing at a phenomenal rate right now. This is a company, even though they are considered one of the bellwethers now because of their size, the revenue base is still relatively small, and they have a lot of momentum in their traffic and transactions.

For many of the Internet leaders, you're paying a high valuation with only modestly higher growth prospects.

The news flow (from companies) is still quite negative.

When companies first come public, there's a lot of hype, anticipation. The company is out hyping the IPO on a road show and investors get very excited and they might pay a bit higher than they may in normal situations.

The IPO market right now is very weak. However, when you have a deal this size and this level of recognition, a blue chip company, generally, companies like this can supersede market conditions.

Unfortunately, we still have Iraq dominating the news and any changes in the situation there will have a big affect -- although I think we are in a period now that's seasonally strong for the market, especially in technology. So, I think everyone's going to be very focused on how companies are doing in this fourth quarter and then, obviously, the holiday season.

Really, the Internet is broader than one sector. We're going to focus on companies that focus the least on technology. Tech companies just are not attractive. They are too competitive, and they have predatory pricing.

We're focusing on companies that will be long-term players on the Internet.

It's pretty clear the fourth quarter of last year was pretty horrific, and we didn't need much of a bounce to post these kind of returns.

I think we've had a tremendous run. I mean Nasdaq had a terrific year. A lot of the Internet names that we hold in the fund had terrific years and quite frankly I think going forward it's going to be more challenging.

Three years ago, nobody took the Internet seriously. We're in it for the long term.

Software.net has the potential of being a leader in this space and there are clear comparisons to Egghead.com, and also to some of the online companies that sell CDs. They're really not that much different.