Great service, not the Internet, is what companies like Bloomberg LP
So says Michael Bloomberg, the founder and chief executive officer of
"Customer service is the only thing that will matter in the next couple
"The key to survival to companies like ours in the next 24 months is not
Nevertheless, he said, Bloomberg will probably begin delivering
The Internet is a good communications device, Mr. Bloomberg conceded. It
In the 1980s, Mr. Bloomberg said, customers spent freely on several
"Now we have to justify ourselves," he said. "We have to sell, add
Bloomberg, which has 4,500 employees and expects 1998 revenue to come to
One way to make money from the Internet, he said, is through
The most successful example, he said, is the Wall Street Journal
Companies like Bloomberg and its competitors, Bridge Information Systems
A less promising approach, he said, is to sell advertising on a Web
"Prices are plummeting for Internet advertising because the click-
Though the Internet lets advertisers track and measure how users examine
As for electronic commerce on the Internet, "the danger is that someone
At that point, he said, competition switches to comparisons of customer
The stock of Internet companies has risen to irrational levels, Mr.
"Look at the market cap of these companies," he said. The public is "so
"Technology is not a substitute for our day-to-day lives," Mr. Bloomberg