The Wal-Mart Future:

The fundamental problem to date with B-to-C is that it pursued an inflationary path to a deflationary ideal. The original assessment was correct: the Web is the best retail environment the world has ever seen, _because _it is deflationary. However, this means businesses with trendy loft headquarters, high burn rates, and $2 million Super Bowl ads are precisely the wrong companies to be building efficient businesses that lower both consumer prices and internal costs.