A number of developments are happening on the Internet that AOL couldn't ignore.

There's long been concern about privacy on the Internet. What's different now is there is more criminal activity on the Internet.

It is ironic that the Internet is a global phenomenon -- yet if you're not in Silicon Valley, it's really hard to get a sense of the pace and the connections between those companies. So many of the ideas get transferred in hallway conversations, meetings over lunch and the casual interactions of the companies that are proximate.

It's been boring, really. We don't do junk bonds, pork bellies, Internet funds. It's just dollar-cost averaging.

Emulation is slower, sometimes much slower, than applications that run natively.

With some applications you notice the emulation more than others. The applications may not be as responsive when you first open them. For the person that bought the Intel-based Mac and is looking for that performance increase, the bigger bang will come from the native code.