“…Facebook’s IPO demonstrates that the world is changing rapidly and this presents great opportunities for New Zealand entrepreneurs.
It shows that the value of a company can go from zero to US$100 billion in less than a decade – and the world has no borders as far as internet-based companies are concerned.
Fifty years ago the largest listed US companies were American Telephone & Telegraph, General Motors, E.I. du Pont, Standard Oil Company of New Jersey and General Electrics – all of which were almost predominantly domestic based.
The top five now are Apple, Exxon Mobil (formerly the Standard Oil Co of New Jersey), Microsoft, IBM and Chevron with Google in ninth place.
The majority of these have a strong international presence.
There is no reason why a Facebook or a Google could not originate in New Zealand.
The internet has opened up a wonderful opportunity for technology entrepreneurs – because they face no international barriers – have no working capital requirements – and are not dependent on indigenous raw materials…”
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Brian Gaynor: Who wants to be an internet billionaire – Business – NZ Herald News.
