BUSINESSWEEK ONLINE : OCTOBER 4, 1999 ISSUE

THE INTERNET AGE

BUSINESS THE ECONOMY STRATEGIES MANUFACTURING MANAGEMENT FINANCE LETTER FROM SHANGHAI GOVERNMENT POLITICS REGULATION SOCIETY LIFETIME LEARNING THE INTERNET & ME E-MAIL LETTER FROM BLACKSBURG, VA. THE NEW COMMUNITIES 70th ANNIVERSARY SPECIAL SECTION 70 YEARS OF BW COVER STORIES SEE ALSO: BW e.biz

THE ECONOMY THE WORLD'S NEXT GROWTH ENGINE America blazed the trail, and now the rest of the globe can enjoy gains from an information economy STRATEGIES BRIGHT HOPES AND TERRIBLE FEARS Much of what we thought we knew about business won't hold water when it comes to the Internet MANUFACTURING THE CUSTOMER TAKES CENTER STAGE Personalized products become viable as the Net provides direct links between client and supplier MANAGEMENT WANTED: THE YOUNG AND GIFTED For companies on the cusp of the Internet Age, the resource in shortest supply is brainpower FINANCE ALL THE WORLD'S AN AUCTION Nowhere has telecom and information technology had a greater impact than on capital markets LETTER FROM SHANGHAI BIG BROTHER AND THE E-REVOLUTION Will heavy-handed government officials hold back Internet entrepreneurs? POLITICS ACTIVISTS WITHOUT BORDERS The Net is fast changing the rules in power politics, but government censors have their scissors out REGULATION TAMING THE WILD, WILD WEB Without laws that have some teeth, the Net's growth will be stunted LIFETIME LEARNING SCHOOL IS NEVER OUT To keep up with ever-changing job demands, continuing education is evolving at Net speed THE INTERNET & ME WORK A LA MODEM A Business Week writer describes the joys and headaches of telecommuting E-MAIL LIKE IT OR NOT, YOU'VE GOT MAIL Electronic messages are already outstripping snail mail, but speed often takes precedence over substance LETTER FROM BLACKSBURG, VA. AMERICA'S DIGITAL DIVIDE The haves and have-nots of affordable online access give the lie to the concept of a global village THE NEW COMMUNITIES UNTANGLING THE WEB Software will someday cut through the clutter and help online communities flourish   The power to navigate the world at the click of a mouse is a force that is transforming our lives like none before In October, 1969, researchers at the University of California at Los Angeles were ready for a critical experiment. They had set up a computer and communications node while colleagues installed similar equipment in Menlo Park, Calif. Now they would test whether they could link computers over telephone lines to operate as one system. Once the line between the two teams was open, the researchers at UCLA began slowly tapping out a message, "login," to activate the link. The system crashed. Such was the genesis of the Internet Age. By the end of the month, the teams linked the computers in a demonstration that captivated their bankrollers at the Pentagon. The brass hats would eventually create a nationwide ring of computers and telephone lines designed to keep functioning even if a nuclear attack took out part of the network. That idea, jazzed up with software that makes information easy to read and lets us navigate the Net with a mouse click, has become the force that is transforming our lives like none before. HUMBLED. Anyone with a computer is a citizen of the world--and a richer world at that. The musings of Leonardo da Vinci, your granddaughter's refrigerator-door art, a Presidential news conference, or a list of your supplier's inventory of a critical component are within reach. At this point, we can only imagine where the technology will lead us. Certainly the early impact of the Internet is profound, particularly for business. Upstarts with a T1 line and buckets of cash are humbling companies that once seemed impregnable. Financial markets are becoming more efficient for people who want to invest or raise money. In fact, efficiency may be the watchword of the Net. It provides the means to break down bureaucracies; challenge corporate, governmental, and intellectual orthodoxies; and foster a stronger sense of community. Such developments have sparked more than one revolution. There's no reason to expect anything less this time. To read a letter to the editor about this special report, click here. FOR INTERNET INVESTORS... THE GROWTH IS JUST BEGINNING Overseas markets and broadband access will keep newbies coming SECOND-PLACE DOT.COMS Sure, first-movers have an edge, but it doesn't always last NOW, PROFITABILITY MATTERS Wall Street is starting to punish stocks that don't have it NET ADS ARE HARDLY DEAD Banners may be waning, but other ad forms will live long and prosper PLUS: COVER GALLERY Through seven decades, tracking business--and the world