A second-year MBA business school student jettisons his plan to work for a strategic consulting firm in his native country of Brazil after his 1999 graduation when he realizes that the Internet market in Brazil and Latin America had boomed since he left in 1998. Armed with the knowledge that these new venture-capital firms are copying successful U.S. business models and his knowledge of Brazil's market, he decides to open his own Internet company there instead. From his use of a framework with B2B, B2C, C2B, and C2C segments in researching U.S. Internet markets and business models, students should learn how to analyze companies and answer the question: what should the business be?