Business

You call this a bust?

|new york

NOT the beginning of the end, more the end of the beginning—or perhaps only the beginning of the end of the beginning. For all the talk of dot.com burn-outs and lay-offs, the numbers from America suggest that worse is to come. The real problem with Internet companies (aside from huge losses and dwindling supplies of cash at many of them) is not that there have been too many failures but that there have been too few.

This article appeared in the Business section of the print edition under the headline “You call this a bust?”

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