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"Never start with an apology," they say. But having said that, my
apologies for this seriously off-topic post. (Hey, it's the weekend.)
Last July, several members of this list kindly responded to an inquiry
of mine about translating a term from German into English. I am putting
the finishing touches on the translation of a book about venture
capital, and since many of you know three times as much about the
subject as I do, perhaps you'll have some productive ideas.
The German author uses the terms "hype" and "hype phase" liberally
throughout the book. I ran the terms by two bankers here in New York,
and both of them seemed . . . well . . .hesitant. Can you think of any
synonyms I might use? I've listed some examples of the author's usage
below. Any suggestions would be most welcome.
And once again, if you're peeved, please accept my apologies.
Philip
During hype phases the established corporations first feel the pressure
in the capital market, not in the product market. Investors tend to put
their money into growth companies rather than into “boring” major
corporations.
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During periods of hype such pressure results in well-established
corporations increasingly orienting themselves to the logic of venture
capital-financed companies and trying to ride the capital market wave by
buying up growth outfits.
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Venture capital-financed companies wager, so to speak, that they will be
able to refinance themselves through the capital market until they reach
profitability. In hype phases the object for growth companies is to
stretch the process of “giving away” shares as long as possible and
adeptly to interweave raising new money . . .
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A market downswing causes a change in dress codes too. Corduroy
trousers, long beards, T-shirts, bright red hair and a public striptease
by the CEO are viewed as remnants of a hype phase which is now passé.
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The departmentalization of functional units appeared to be an alien
concept during the hype phases of the semiconductor, PC, biotech and
Internet industries.
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The organizational promises during hype phases culminate in declarations
of a new relationship between capital and labor.
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The terminology loses its appeal. It is associated with a failed
business model, with investor fraud and bankrupt companies, and becomes
like a ball and chain. The order of the day, under such circumstances,
is “save yourself if you can.” Management mounts an all-out attempt to
revamp the company's language and terminology usage which had attracted
much attention during the hype phase, but is now worn out and therefore
discarded.
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Female CEOs like Meg Whitman of eBay, who had inclined toward classic
business suits as opposed to trendy New Economy outfits even during the
hype phase, suddenly became sartorial role models for other female heads
of online companies. Among men, too, classic business dress held sway
once again.
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