1) HE left out NETSCAPE, ICQ and other AOL investments
2) AOL service provides AOL channels for non-techy members plus provides internet connection for techies who can use their choice of browser outside AOL channels windows. AOL is for all family members from techy children to non-techy momies. AOL PROVIDES NEED OF EVERY MEMBER OF A FAMILY.
3) AOL'S E-COMMERCE is going to boom because people are not going give away credit card #'S to each and every website. They'll be comfortable with Shopping at AOL who already has credit card information.