American - Businessman | August 20, 1961 -
Most adults I know start their Internet session at Google, and most kids I know start their Internet session at either Facebook or MySpace.
Fred Wilson
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When there were not very many Internet companies, the supply of Internet companies to the market was small and the appetite for them was large. Therefore, if you were in the business of creating Internet companies in 1996-98, you had a market that provided massive demand for that.
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People already love to play casual games. But when you take a casual game and stick it inside a social network, it becomes way more exciting.
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When people laugh at a company or say, 'This is the stupidest thing I have ever heard,' you are listening.
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Yahoo is free, it's fast and it's Web-centric. AOL is slow, it costs money and requires proprietary software.
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The best talent in the venture industry doesn't work in large companies and won't work in large companies.
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The Internet is a computing platform built on top of core technology. Applied technology is what gets built on top of that: It's Web services.
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The Web is going to capture an increasing share of people's attention, and billions of dollars are going to flow in. What Web 2.0 is about is harnessing those dollars in highly leverageable ways.
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I'm not saying M.B.A.s can't be great entrepreneurs. They can. But you don't need a degree to figure out it's costing you $5,000 per month to run your business, so you need $30,000 to keep it going for six more months.
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Money is information, like bits.
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It's not easy for an entrepreneur to find the time to blog. But for those who do it, it is a great tool to communicate with the various stakeholders in their business and build a reputation for thought leadership.
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Blog-based businesses have lower cost structures and are more 'authentic,' and as a result are drawing larger shares of ad budgets.
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