Right now I feel a bit like I did when I wrote my first java program.
So why am I doing this?
Because there is a conversation going on that I want to be part of. To add to. And to be provocative and develop my own thinking. (And maybe to give myself a back up career in journalism for when the bubble bursts again. I just heard about a VC offering to invest in a UK company at twice the valuation of an angel round that was six months ago and their pitch was “we’ll do it quickly with no due diligence”! Then the round got done by a hedge fund at a still higher price!!!)
Oh – and to have FUN.
And what conversation would that be?
Good question. To start with, something about venture capital, web2.0, making money, internet marketing. I’m going to try and make this about my thoughts rather than about what other people are thinking.
A starter for ten
I’m starting to think of web2.0 companies as falling into three categories:
1) Stuff people have always done simply moved to the net – a lot of these are old ideas that are finally having their time like the verticalised internet exchange models of 1999 – e.g. ticket exchange hubs. For a money guy like me these are the easiest to wrap your head around.
2) Old stuff done new ways on the net – LastFM is a good example of this, giving us new ways to control and improve our music listening that weren’t possible pre-broadband. MySpace et al also probably fall into this category although they go partly into (3).
3) Stuff people have never done before – blogging, personalised home pages etc. This is where the really big changes are coming IMHO. Problem is that business models are far from clear….
That’s it for now. My first post. Please comment, if only to let me know you are there!