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President Clinton:

“One study shows today the Internet economy generates $300 billion in revenue, provides 1.2 million jobs. Seven new people join the Internet every second. So should the government help to create the next generation of Internet, a thousand times faster than today, able to transmit the contents of the Encyclopedia Britannica every second? I think the answer is yes.”

House Commerce Chairman Tom Bliley (R-VA):

“University of Texas released its study entitled The Internet Economy, which finds that, in 1998 alone, the Internet generated more than $ 300 billion in revenue and was responsible for 1.2 million jobs. This is a mere five years after the birth of the World Wide Web. To give my colleagues some sense of comparison, it took the automobile industry 100 years to scale such heights.”

Virginia Governor Jim Gilmore:

“The University of Texas recently reported that the Internet generated over $300 billion in U.S. revenue in 1998 - -a third of which was e-commerce related. That makes the United States’ Internet Economy by itself the 18th largest economy in the world.”

Representative Anna Eshoo (D-CA):

“The Internet is really changing business and the way we do business. The companies are busy expanding the Internet and e-commerce at really an explosive pace. Last week, a University of Texas study reported the Internet economy generated over $300 billion in U.S. revenue. In just five years, since the commercial introduction of the World Wide Web, the Internet sector rivals the automobile and telecommunications industries which have been in existence for nearly a century.”

James Barksdale:

“A study just released by the University of Texas sized the Net Economy at $301 billion in 1998 and potentially doubling each nine months. This is profound.”

The Washington Post:

“After perhaps the most comprehensive study undertaken on the subject, funded by network equipment maker Cisco Systems Inc., researchers at the University of Texas said the Internet generated about $ 301 billion in U.S. revenue in 1998 — closing in on the automobile industry.”