REDMOND, Washington -- The dot-com boom may be over, but demand for technology remains strong, Microsoft chairman Bill Gates told about 130 business leaders Wednesday at Microsoft's fifth annual CEO summit.
In fact, Gates said, "I think this next decade will be the big one."
Pioneering e-commerce sites like eBay and Amazon.com are going to be around for a long time, he said, because they're reliable and customers know what they can expect.
But the wane of the dot-coms has altered the high-tech investment landscape, Gates said.
"Some of the mania about this has really changed."
Looking ahead, he said software programs that link computers, telephones and communications devices will change the way business is conducted, bringing improvements in entertainment and in productivity.
Gates said development of broadband links to speed access to the Internet continues to be slow. Because of that, and because of broadband's high cost, Gates said he expects many people will continue to use phone-line connections to the Internet for the next few years.
Attendees included Disney's Michael Eisner to home-and-garden guru Martha Stewart.
While those at last year's session at the high of the dot-com mania may have been a little uneasy, people at this year's summit may be marked by a sense of relief or even smugness, said outgoing Microsoft chief operating officer Bob Herbold, one of the hosts.
Instead of touting flashy website promotions or money-losing e-commerce plans, CEOs are more likely to decide how to use technology in practical ways.
Herbold cited electronic airline ticketing and online brokerage houses as examples of companies using technology to save money and make customers happier.
Although many big businesses are no longer feeling quite the same threat from startups, Herbold said competition worries are also likely to come up at informal meetings throughout the day.
"Another thing on the mind of CEOs is, how are my competitors using these technologies for improving, and am I doing enough?" Herbold said.
