Auren Hoffman's Summation Push for the week of October 31, 1999

This issue:

* Business Idea: Click and Mortar Banks
* Thoughts on Indonesia
* Call This Number
* Profile: Ureach.com
* Summation Push Pick Links
* Hoffman Reading List

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BUSINESS IDEA: CLICK AND MORTAR BANKS

By Auren Hoffman

The rage of the present is totally online banks. They have lower costs, provide great interest rates and are, of course, web-enabled.

However, some people still like to go into their branch office to get their questions answered in-person. Other consumers feel more secure in having a physical institution that they can touch and feel.

For each online bank to build and service thousands of brick and mortar banks is unreasonable. But one company, your company, could build physical banks that would service all the online banks. Kind of like an ATM network that banks offer to their customers as a value add.

This new institution could charge banks a yearly fee plus a per transaction fee. You could build these service centers all over the world so that any bank can have a national distribution. The web bank can be for local everyone -- like a Webvan.

From there, you can expand to house not only banks, but also insurance, mortgages, and many other services that consumers use online but may once-in-a-while want to talk to a rep.

Problems: Start-up capital = about a billion dollars.

Plusses: This could encourage millions of consumers to transfer to Internet banks because they will now have the security blanket of access to a physical institution as well.

(What do you think? Write auren@summation.net)

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Video rental recommendation: Central Station. Great Brazilian movie -- rent it now.

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Thoughts on Indonesia

Indonesia, the world's fourth most populous nation (following China, India, and the United States), elected new leadership last week. The new Indonesian President Abdurrahman Wahid and Vice President Megawati Sukarnoputri have an opportunity to make Indonesia the new land of opportunity.

Though Indonesia has a lot of problems ahead including relations with East Timor, paying off debts to the IMF, and dealing with a divided people, I am cautiously optimistic that this is the turning point to a very bright future for a nation that is full of potential.

Ten years from now I might be eating my words, but I predict Indonesia will be a thriving democracy that will be active in the world economy and world affairs.

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Someone e-mailed this phone number to me the other day:
1-800-578-7453

Has a weird message. Dial and try.

(Got a good idea? Write auren@summation.net)

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Profile: Ureach.com

Free is taking over.

Want free voice mail and free fax service accessed by a 1-800 number? Want to read your email on the web and get it by phone? Want to get a free calendar, free file storage, and free bookmark system?

Get ureach.com (http://www.ureach.com/)

I am very impressed with ureach.com's product. This is a high quality site that can serve as your complete communication system.

Ureach.com seems to be in the seed stages of development -- there has been little buzz about them. My biggest gripe with the company is that they have not aggressively marketed their product yet. This system is so good that with a little buzz it will become a must-have for all Internet users.

From what I can see, they have two revenue streams:
1. Advertising
2. Purchase by the consumer of "additional minutes" if you spend a lot of time accessing your email and voice mail.

ureach.com captures traditional revenue streams and is a very sticky site. I personally find it very useful.

(Thoughts? Write auren@summation.net)

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THIS WEEK'S SUMMATION PUSH PICK LINKS:

* Kozmo.com (http://www.kozmo.com) - this is a great company that delivers rental videos and food directly to your home or office within an hour of ordering them. It is amazing -- check it out.
* CIA Factbook on Indonesia (http://www.odci.gov/cia/publications/factbook/id.html)
* Ureach.com - (http://www.ureach.com/) -- free faxing, voicemail, email by phone -- all with a free 1-800 number.
* Get a Free House now! -- (http://www.summation.net/freehouses/) -- Is free stuff getting ridiculous? Get a free house.
* What am I reading? The Hoffman Reading List (http://www.summation.net/reading.html)

NOTE: Auren Hoffman works for BridgePath.com but the opinions expressed herein are solely those of Mr. Hoffman.

NOTE: You may reprint in full or in part (for free) with permission from author.

SUMMATION