This has been a little unusual in that Internet stocks have been selling off on a steady basis. Usually, you see the sector down 20 percent one day then up 40 percent the next.

Tech stocks were oversold on a short-term basis and on Monday everybody had to get out of them because of Microsoft, and then Tuesday everybody thought that if Microsoft is broken up maybe it's not the end of the world, and maybe there's an upside to it.

Don't Be Usual, Be Unusual.

There is some precedent here with eBay. They have suffered several outages, some at critical times, without losing a significant amount of customer goodwill.

The more targeted advertising is the most valuable online real estate. If a user looking for a specific product can't access information about it on Yahoo!, he may go elsewhere.

There are so many companies that are public now that I can't see everybody making it. I don't think some of these new publicly traded companies are going to survive.