You have to pity Microsoft. No, I'm serious. You really do have to look at the unenviable industry position they are in and pity them. You see, being Microsoft is like being the old weathered gunfighter in a classic Western movie. Everybody is gunning for you. And though you sit with your back to the wall, sooner or later, some kid with a lucky shot is going to put you down.

So it is for their streaming media efforts. They cannot afford to win the streaming battle. They cannot afford to lose the streaming battle. They are effectively held in limbo.

Of course, now the burden of proof in my conclusion rests on me. So let me explain myself more thoroughly.

Microsoft owns the operating system world. If anyone can integrate streaming media into the desktop, they can. If they cannot do an outstanding job at it, they look lost. Looking lost doesn't hold well with customers and stockholders. So Microsoft must pursue streaming media as aggressively as any other effort. Indeed they have. Windows Media Technologies 4 was launched with great fanfare. Microsoft has reorganized internally to take on the streaming challenge. Microsoft is in the war to win it.

But what if they win the streaming war? Then bad things really begin to happen. If Microsoft wins, the company that stunted Apple and gutted Netscape becomes the company that killed RealNetworks. Not a good place to be. Three strikes and you are out. Despite their apparent domination of streaming, RealNetworks is still the beloved underdog and is often considered the true streaming innovator. Both companies are from the same metropolitan area. If RealNetworks goes down because of Microsoft, there is no place to hide locally or federally. Those will not be buzzards circling overhead. Those will be anti-trust lawyers.