A billionaire can indulge his whims

Published: 14 July 1999 y., Wednesday
Paul Allen the movie buff, renovated the Cinerama Theater. Paul Allen, the Jimi Hendrix fan, is building a museum as a tribute to the musician. Paul Allen, owner of a professional football team, is spending millions on a new stadium. But then there_s Paul Allen, investor, who lately has been spending billions, buying something every week or so, from Internet sites featuring Oprah Winfrey to cable companies in Georgia. What is the man once derided as an "Accidental Zillionaire" doing with his money? Following through with a decades-old idea, his supporters say. Internet link by Internet link, cable network by cable network, the Microsoft co-founder is assembling the building blocks of an electronic empire. If his hunches are right, he stands to create a global realm more influential than any of his projects that edge the Seattle skyline. In Allen_s futuristic "wired world," fast Internet connections plus easy-to-use technology and cheap computer devices will deliver a simple and universal way for people to shop, enjoy entertainment and communicate. People will call up "Seinfeld" reruns at will, buy a compact disc after watching a music video on TV, and send pictures to family members by punching a remote control. But so far, that wired world is one-third vision, two-thirds money. Since January, through his cable company, Charter Communications, and his investment firm, Vulcan Ventures, Allen has embarked on a $12 billion-plus spending spree, buying or investing in more than 20 Internet, cable and technology properties. With other challengers emerging on the national scene, Allen and his team are making an ambitious push to convert the sketches of his dream into hard-wired connections to a future with no certain arrival date... communicate with one another.
Šaltinis: Seattle Times
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

NASA to merge media archives

Space officials want proposals for a NASA archiving system that would create a one-stop multimedia source for the public more »

Google Focuses Local Ad Targeting

Search giant Google will offer its advertisers the chance to more tightly target the geographical areas where their ads will be seen more »

'Linspiration' Hits Lindows

Lindows executives have rolled out a new moniker for its desktop Linux software and the name is...Linspire more »

Spam reaches new high in March

More than one million junk emails sent on one day alone more »

Internet nonprofit meets with U.N.

U.S. company controls domain names; security, governing discussed more »

ITT fashion spring “CeBIT 2004”

18th world’s largest information technologies’ and telecommunications’ exhibition “CeBIT 2004”, which takes place in Hanover (Germany) annually, has already ended. more »

Foreign fraud hits U.S. e-commerce firms hard

Top offending countries: Yugoslavia, Nigeria, Romania more »

'Buffalo Spammer' convicted

A man accused of using EarthLink Inc. e-mail accounts to release a flood of unsolicited commercial ("spam") e-mail on the Internet has been convicted on charges of identity theft and falsifying business records more »

Google Gets E-Mail

Search player Google is getting into the e-mail game more »

New eMail Tales in Microsoft's Minn. Case

Microsoft officials sought to dissuade Intel from investing in handwriting software startup GO Corporation in 1990, according to the latest round of e-mail evidence more »