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For Christ's sake, people, why do you rush into this 'startup' thing. Fact that you read about enormous valuations doesn't mean you are automatically invited to participate. Those (minority) with real passion will be in iregard of valuations. Other 95% are guests only and as guests they will be treated - go home after three days. Without money ofcourse.
1 year ago on What do you tell people who ask how your startup is doing?
This is a theory, but reality is quite different. 95% of those youngster's funded startups fail which is close to catastrophic results. Next, majority of those young entrepreneurs are aware of this get-rich-quick opportunity and they fake enthusiasm and other things necessary to lure in VC-s. Maybe they are afraid of failure (which I strongly doubt), but they simply cannot fake knowledge, experience and skills necessary to build successful company. So their gamble goes something like, let's try this startup route, of I fail I will have plenty of time to take ordinary job anyway (I know many such startupers). Where is fear in this equation.
Let's not be naive. Question is, for how long will this mice-and-cat game last.
1 year, 1 month ago on Leasing a soul and building better companies
@Todd Dunning very true, but for some reason you won't read about this in mainstream tech media. I think failure rate is between 95 and 97%
1 year, 2 months ago on Sheer madness: starting a company in your 60s is anything but glamorous
@cynthiaschames This is actually not surprising: we are in the middle of Paradigm Shift, where old principles and abilities are not much worth, no matter the school name. For example some guy out there builds some app that is worth more than established carmaker. Can it be weirder? But it is reality.
I think all ages today have similar problem, how to build sustaninable income in a rapidly insecure world.
I don't know why establishing a startup is always connected with youngsters. Does it mean that people over 30 or 40 are stupider, less knowledgeable or less creative? Of course not.
Maybe this was realistic during early days of Internet, but now this is more a fad than reality, because Internet is a mature medium, and so are users. Surfers are all the way from 14 to 60 y.o. I really don't see a reason why some kid should devise best service for 30+ audience (and they are now a majority).
I think media and VC's would need to slowly adapt to this new reality. Internet is not 'youngsters thing' anymore, it is mainstream like electricity or utility.
1 year, 2 months ago on Starting a company and having a girlfriend isn’t easy
@mcarney @LeeBlaylock Investing huge sums in basically sexting app doesn't sound very good.
1 year, 2 months ago on Bill Gurley on getting in on Snapchat: “Any price is kind of any price”
VC's always try to rationalize their investment, no matter how weird it is. Think Color for example. Re Snapchat, arguments stated here are not valid because every image sent can be easily captured, stored and abused. But VC's have clear goal, to make hype and sell to d.u.m.b.e.r. ones. World goes round as always
1 year, 2 months ago on Customer validation: from lean startup to craigslist
I would add, seniors could have great ideas, but young ones cannot have experience and know-kow. So seniors are at advantage from day one. I really wonder why more seniors don't go startup route. If not else, to challenge others. To be honest, why leave so lucrative field to young ones only.
1 year, 10 months ago on Hiring old people: The dangerous but necessary steroids of the startup world
I really respect the Author but this question is obvious, Japanese did that long time ago. Smart company has to have young ones and senoirs. Market is giving confirmation every day, 98% of startups will cease to exist sooner or later. As an conclusion they have to grab every opportunity to enhance their chance of success. Giving chance to seniors is one of the best methods and they should give them royal status. That's for sure, giving (un)success rate of today's startups
Unfortunately this business model is doomed. It isn't qouestion whether LlivingSocial is smart or better managed than Groupon. There is no smart move that could save recording industry. Same goes here.
1 year, 10 months ago on LivingSocial may be running dangerously low on cash and time. Will Amazon come to the rescue?
If that is not ridiculous I don't know what is. On 'Slush' Conference website there is a list of 400 'some of our accepted startups.'
So many startups, time and effort wasted, and how many successfull ones? Rovio and...hmm...Rovio. Don't get me wrong I like Finland, it is not specific finnish problem. Nowadays it is more lucrative to open small corner shop than to launch a startup.
There will soon be more startups than total number of startup users. Whenever bar for entering business becomes so low, business model goes into oblivion. Time to pass startup scene and go on, finding some new lucrative field. Startups are out, students better go doing something more useful.
1 year, 11 months ago on Out of the fire, into the sauna: How students power Finland’s startup ecosystem
I wonder how do they lure investors in. Do they say yes it is not new idea but you know our users are female from 23 to 28.5 y.o. Thus we are unique.
Couldn't help myself :)
2 years, 3 months ago on Forget “Friends” and “Contacts,” Nextdoor Is the Social Network for Neighbors
I have a better ideal. Let's stay in room behind screen forever and live in a virtual world.
2 years, 3 months ago on Don’t Laugh at Google Glass: They’re Goofy, but They Will Save Us from Ourselves
So FS started as A and received incerdible valuation for that, only to change its mind and start with B. What kind of a business plan is that hmm.
Can I have 50M USD, I promise I will pivot like crazy until I nail something :)
2 years, 4 months ago on Foursquare Redesign: So What if the Check-In is Dead?
If we take into account that similar apps pop up all the time, I wonder what is croteria to be written about here on Pando.
2 years, 4 months ago on Nears Arrives From Brazil to Take on Foursquare In the Mobile Marketplace
software wasn't problem, hype was. People have lost 30B USD, that's problem which will have long term impact. They did it again
2 years, 4 months ago on Valley Elite to Nasdaq: Either Greifeld Is Done or We Are
@Daniel Kim isn't that discrimination to the outsiders who aren't connected to the company?
2 years, 4 months ago on Zao’s Social Hiring Platform Could Finally Put an End to Recruiters and Job Boards
@RZ28 I would agree. Groupon business model obviously didn't proved to be long term sustainable, to put it honestly. So this IPO is attempt to cash in chips while there was chance.
2 years, 4 months ago on Source: Lefkofsky and Samwer Were the Ones Banging the Table Insisting Groupon IPO Immediately
@ZivEliraz why do you think employees and friends can be trusted to recommend right people. My guess is that they would try to push their friends and relatives, instead of quality candidates. It happens allover the world. Connected people get a job, and not competent people. For a confirmation, read any news portal ;)
@surrenderdagny umm.. tell that to investors who have lost 30B USD in a week
2 years, 4 months ago on So Facebook Isn’t the New Google, But Zuckerberg Could Be the New Bezos
I really adore and respect those young successful entrepreneurs, but we somehow came into strange environment where only youngsters know how to make things, we ask them for advice etc. Is it really possible that for the first time in history youngsters know better than more experienced people? Does it mean that 30+ with time degradate in knowledge, capability etc.? Because that is exactly happening, in most perspective industry life starts at 20 and ends about at 30
P.S. this ofcourse has nothing to do with this nice, smart and young entrepreneur.
2 years, 5 months ago on Video: Sarah Lacy’s PandoMonthly Chat With Dustin Moskovitz
I could agree. Being passionate about own idea is a good reason to start a company. Starting co. without having idea is not good because there is no passion involved and (prevailing) goal is to ride present trend and try to make some money. This is wrong attitude and I am quite sure this will change.
If you have an idea, believe into it and stand behind it, who can stop you? I thing VC's will start to change their attitude toward this soon or later.
2 years, 5 months ago on Dustin Moskovitz: Y Combinator’s “No Idea” Round Bad for Silicon Valley
@hamishmckenzie Hamish it's ok to predict major use of mobiles, since we are in the middle of Bell shape i.e. new users will come from less developed parts of the world. But how can you generate rich experience of a large screen on a small mobile. To me personally there are usage advantages of mobile apps (simple and straight apps) but still I find 'classic' web as highly useful. For now classic web leads way 4:1.
We may look it as an symbiosis between mobile, notebook, desktop, iPad and maybe some new formats. Mobile willl have biggest number of users but small mobile will hardly be of predominant importance, except maybe for simple focused tasks. Because with mobile we are going back, it's not progress but limitation.
2 years, 5 months ago on Web 2.0 Is Over, All Hail the Age of Mobile
I don't think I would agree completely. In business they always say to you hold out no matter what. If you start something, you should endure in the first place. It looks abit like a child play, let's start this and that, but we will not commit and believe into it.
Great products in history were always result of stubborn belief into one's idea. If we let go our idea easily, we may as well establish many different projects without real commitment, and let market (and VC) decide what will be success. So if you start a project , you should believe into it and endure. If you start several projects, you also better believe into all of them, othervise nobody will trust your seriousness.
One pivot is ok, but several pivoting iterations and switching projects off-on is really not sign of a serious and capable businessperson.
2 years, 5 months ago on Jesse Middleton and The Importance of 100% Focus On Your Best Idea
With due respect, I think author in a way missed point. It's not about old media-new media relationship. It's about Paradigm Shift where probably nothing will remain same. As always during Paradigm shift times, old leaders never remain new leaders. After gasoline engine was invented, no steam engine factory could survive, no matter how rich they were.
Old media corporations so far missed point en grande, it's not how much money do they have. They simply cannot compete because they inherit lagging corporate culture instead of small and nimble startup culture. Money cannot save them because there is not enough revenue to sustain their main advantage -quality, and overall quality of news deteirorates all the time which puts them at disadvantage because of bigger running costs. It happens allover the World
It's not that new/small media will win this race, but they have more chance to find out what will be next sustainable media model. It will probably be far from the one we are familiar with.
To sum it up, nothing can stop idea whose time has come
2 years, 6 months ago on It’s Time to Stop Talking About the Death of Big Media