But the reason why all the big Internet consumer retailers have been battered by the stock markets is because their model isn't working as well as expected. Online purchasing is taking off with a whoosh, not a roar. Consumers are scared by the insecurity of the Internet, and rightly so. It won't take off at phenomenal speed until somebody comes up with a new and almost foolproof method of protecting consumers from hackers. But that's less of a problem with business to business transactions, where extra security isn't prohibitive and credit cards aren't used.
Many businesses now use the Internet and similar telecoms protocols for sourcing components.
Boeing is probably the best-known example. Others use it to outsource huge swathes of work. This outsourcing breaks down national boundaries. Closer to home, the Internet is allowing many employees to telework from whatever location they choose. I'm a good example of this.