When asked about the dot-com economy, Tim Dyson was succinct and acid -- almost contemptuous. "There's only one metric," he said. "Stock price."

The venom was surprising on two counts. First, Dyson seems like a laid-back, easy-going guy. The flash seemed out of character. Second, he has done well by the dot-com economy. His company, Text 100, does public relations for information-technology businesses (including such giants as Microsoft and British Telecom). It listed on the London Stock Exchange two years ago and the enthusiasm for all things digital has boosted its share price, making Dyson a fairly wealthy fella in the process.

So why the anger? Dyson's flash revealed his deep concern for the dynamics of the digital economy (and that concern is the real reason for Text 100's success, dot mania notwithstanding).