![]() ![]() Will you see 50 with billion-dollar exits? Probably not. Will you see an ad technology company come out of there? Maybe. You have this creative culture in New York City that won’t go away. If you do a historical analysis of companies started during the first bubble and found how many became billion-dollar businesses, there weren’t many other than DoubleClick. You wind up with creative types in ad tech who start companies. You can’t compete with Wall Street salaries. Trying to get a tech guy from a Wall Street firm is three times what a Silicon Valley company pays. The tech center of excellence is Wall Street. You don’t have a technololgy center of excellence. Is that a business? Is it going to make money? Probably not.ĭoes the New York startup scene have a prayer up against Silicon Valley? In a lot of cases there’s nothing social about them. If you’re a small company, the question is, Do you have something unique enough to get you on this empirical curve? People put the moniker social network to their name because it will help them raise capital. Once you have guys like Google and Facebook who can throw hundreds of millions of dollars at it, they can create and innovate and iterate very quickly. Everyone is trying to figure out to be a social media company. I can’t tell you how many companies tell me they’re a cloud provider. ![]() Back in the early days, it was being dot com. With buzzword bingo everyone wants to be social or the cloud. That possibility is there.Įlevation Partners’ Roger McNamee said social media is “over.” Do you agree? could say there’s no liquidity in the capital markets, the M&A hasn’t picked up and they’ll zip up their wallets and focus on their portfolios. There’s still a potential for a new nuclear winter. The companies that are fiscally conservative and know how to manage will live. Today you can operate on far less capital. ![]() Data centers were selling on a per-rack basis. The difference between the companies that got started in ‘ was that it cost a lot of money to build those businesses. Having gone through the first bubble as an entrepreneur, I can tell you the pattern is really close. ![]()
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