Instead, he became a vital player at Covia Partnership, which operated Apollo, UAL's computerized reservation system, as well as UAL's internal data and voice networks. When Covia was spun out of UAL, Teflian served for five years as the new company's chief information officer. When Nets closed its doors, in 1997, Teflian and his team moved to Perot Systems. There, they formed Time0 and made Teflian its president. We facilitate the creation of digital marketplaces.
Every digital marketplace is different, but there are common, overriding characteristics.
For example, digital marketplaces are new lines of businesses that are formed when competing or complementary companies come together to compete for the value of a customer relationship. By driving down transaction times, they drive down transaction costs. In fact, because they bring value to a large number of participants, digital marketplaces usually reduce the cost of a transaction exponentially. That was a couple of years ago, and a lot of what was being said about time and the Net was total myth. People were smoking Web heroin.