• by August 30, 2000

In response to yesterday's Minute, many of our readers cast their votes on the future of the web, and it's clear to see that our industry is brimming with... tempered enthusiasm.

One reader, Don Panek, President of TelephonyWorld.com, seconds the opinion of Lehman analyst Holly Becker, who doubts the future of huge online portals.

"I certainly agree with the premise that traditional dollars are not necessarily going to be thrown to the "Big" net players, and I am not surprised that there has been a noticeable decline," Panek writes. "While it seems as though the big gold rush may be over, and the big players like Yahoo may be sinking (to a degree), when it comes to ad spending, I believe that the future will be forged in "Niche" sites and vertical communities.

***

Panek explains that the net is not unlike other media in regards to advertising and grabbing targeted eyeballs - "If you want to find the golfers, you go to specialized programming and magazines. It will be no different on the web in the future."

Another reader, Bill Hart, President of Hartigan Marketing Group in Florida, states, "It's funny to stand back and watch the profile of the overall industry, online advertising included in that. The big surprise is that what happened this past April took so long to happen." Hart says "online advertising will modify, then grow," which is endemic to any field.

So the hype appears to have subsided, at least from where I sit. Maybe it's time to dust off those old advertising textbooks and pay more attention to history as it repeats itself.