[DOWNLOAD ORIGINAL ARTICLE IN WORD FORMAT]
[DOWNLOAD EDITED ARTICLE IN WORD FORMAT]

Technology Glass Is Half Full

There was a time not long ago we thought the only things you needed for survival were a decent modem and an ergonomic keyboard. Beyond that there wouldn't be any need to leave your house for even a bag of groceries or a drug prescription.

But before we knew it, the plug was pulled on the likes of Napster, Groceries, Pets and a lot of other dot coms that suddenly vanished into virtual air. Those days may be gone for now but not for good, according to a panel of technology experts at Stanford University's law school Monday night.

Leading the discussion titled, 'The Good News About the New, New Economy,' was Mozelle Thompson a commissioner on the Federal Trade Commission. Next to Thompson and facing a crowd of about 200 were the CEO of Hewlett-Packard, Carly Fiorina; CEO of the former Napster, Hank Barry; Stanford law professor Larry Lessig, and president of Sony Pictures Digital Entertainment, Yair Landau.

Thompson guided the discussion as some of Silicon Valley's most experienced offered varied opinions on what's in store for their wounded industry.

Barry, expressing optimism said that what the country needs is a strong economic package.

During the high tide of dot com U.S.A., no idea was a bad idea as long as someone could connect a business plan with the Internet. Venture capital firms handed out millions of dollars to almost anyone who could put show online potential, but that's not the case now.

"Venture investing is down 70 percent ." Barry said.

Fiorina, of HP, said that "During the fever of dot coms we forgot some of the fundamentals. We forgot that fundamentals matter and you've got to make a profit eventually."

The panel told the audience of students, professors and people from the community that it's important to take a step back and learn from recent business mistakes in hopes of not repeating them.

One area of immediate concern is accessibility. According to these experts, technologies like cell phones, home computers and the Internet are still too complicated and expensive, which makes it impossible to reach people who cannot afford them.

The role of government and its involvement in the technology industry is a much debated subject. How much regulation is needed in a democracy that prides itself on operating in a successful free market? The panel agreed that government inherently has a place in e-commerce, but to what degree is a matter of opinion.

"We all recognize we're moving into new world, it's extraordinarily exciting," Barry said. "But we must get together with government to figure out how to move forward."

Fiorina added, "Government can and should play a role in minimum standards not maximums."

The panelists said getting the technical industry back on a profitable track requires putting consumers in the driver's seat. Never before the advent of the Internet, have consumers wielded this much control over the relationship between buyers and sellers.

"The key as an investor is to make sure there's a market for our goods," Barry said.

Landau, of Sony Pictures, said that the "Internet is catalyst for new economy. "It's brought capitol to new levels, we are now part of global marketplace."

Crucial to reestablishing a strong technology market is the notion of new and creative ideas. The panelists hoped a downturn in the economy doesn't bring an end to new possibilities.

"Innovation brought you Napster," Barry said. "We ought to let that innovation flourish."

"Napster changed to the world of music forever and we're not going back," Fiorina said.

Law professor Lessig takes a more pessimistic view about the future of technology. "Napster worked because people wanted music and they got it," Lessig said. "The problem was they didn't have to pay for it."

The balance must lie somewhere in the middle, some members of the audience concluded. As third year Stanford law student, Peter Suen, walked away from the lecture Monday night he said, "We don't have all of the answers."