In addition, HBS is delivering human capital. "Our graduates are going into established industries and creating new models that are changing the way we do business," says Professor Lynda M. Applegate, who coordinates elective field studies in information technology and has developed case modules on electronic commerce and emerging Internet-based business opportunities. Applegate has worked with a number of HBS alumni who are launching their own Internet companies, selling products or services through cyberspace, or developing tools to facilitate electronic commerce. Rayport also notes that the School's alumni have played key roles in numerous cyber success stories, as founders, funders, and managers. Whatever their degree of success, HBS Internet entrepreneurs are feeling their way toward an unknown future in a brand-new universe.
"It's a tough world out there," notes Sahlman of Internet startups. "A lot of people have failed. A lot of companies won't make it." Rayport and Applegate note that of the hundreds of thousands of commercial sites on the Web, only a few dozen are actually making a profit. At this stage, however, profit is not the point. "Ultimately, we're talking about a change in the economy, in the way businesses organize themselves, and in the way customers access services," says Rayport.
The HBS Bulletin recently spoke with five alumni who have founded and lead Internet-based companies, plunging head first into the fast-paced, topsy-turvy Internet economy. The following profiles represent a sampling of the impact HBS graduates are making in cyberspace. CLICK on the images to the left to read their stories.