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

Online Scams Up, Credit Card Hacks Down

Consumers face a rising threat of online rip-offs, but they may be worried about the wrong thing more »

A centralized MMS system

Nokia's MMS Solution Enables TeliaSonera's pan-Nordic Multimedia Messaging Launch more »

Gartner: IT services revenue to grow

Companies will spend slightly more on IT services in 2003 than last year more »

North Korea's School for Hackers

In North Korea's mountainous Hyungsan region, a military academy specializing in electronic warfare has been churning out 100 cybersoldiers every year for nearly two decades more »

search.lt news

search.lt presents newest links more »

Computer Crime Losses Drop Significantly

Financial losses from computer crime are down significantly from last year according to the latest Computer Crime and Security Survey more »

College plans virus-writing course

While many students would be expelled from their computer science programs for writing a virus, the University of Calgary plans to make writing such malicious programs a part of the curriculum more »

Danish prince celebrates 35 with Web site

hkhkronprinsen.dk - a personal Web site of Danish Crown Prince Frederik more »

724 wins messaging upgrade in Estonia

724 Solutions announced Radiolinja Eesti of Estonia will upgrade its messaging gateway to 724’s X-treme Mobility Gateway (XMG) more »

The front runner

EURID will manage .eu top-level domain more »