Gates and Ballmer: 'Narrow-minded and short-sighted'

Internet keyword company RealNames has announced it will be closing its business today, citing a lack of funding.

RealNames had an exclusive deal with Microsoft, enabling keywords to be typed straight into the Internet Explorer browser to guide the surfer to the right site without going first to a search engine site.

But late last week Microsoft terminated its contract with RealNames and said it will no longer continue to fund the venture.

Keith Teare, CEO of RealNames, said Microsoft's decision to put a stop to further investment is short-sighted and lacks future vision.

He posted the following comments on his website, www.teare.com: "...I am bitterly disappointed by the lack of vision I encountered. I truly hope Bill Gates and Steve Ballmer are aware of the narrowness of the vision. If they are not then a crime has happened under their noses. Naturally I'm pretty unhappy about this.

"Microsoft seems to be playing the role of the referee who decides whether any innovations succeed. Because of this they've just brought innovation in internet naming to a grinding halt."

The California-based company will lay off around 80 employees and will begin the process of liquidating its assets shortly.