This dramatically changes the venture capital model. Consumer ventures used to burn so much time and money that most high tech entrepreneurs focused on carriers and large enterprises. In order to assess demand for their wares, they would need to first develop the technology and a sales force to sell it, a 3 year proposition. If the entrepreneur had a track record of success, we venture investors would take our chances on the market and fund those first three years of operation."
Wednesday, November 15, 2006
Who Has Time For This?
"7. XML has enabled the rapid development of integrated web services like MySpace, Facebook, YouTube, LowerMyBills, and Yelp. For the first time developers can whip together a complex community site that mashes up data and features from across the web. This last point is critical, because it enables consumer-oriented entrepreneurs to do something new and exciting: test a business plan without capital.
This dramatically changes the venture capital model. Consumer ventures used to burn so much time and money that most high tech entrepreneurs focused on carriers and large enterprises. In order to assess demand for their wares, they would need to first develop the technology and a sales force to sell it, a 3 year proposition. If the entrepreneur had a track record of success, we venture investors would take our chances on the market and fund those first three years of operation."
This dramatically changes the venture capital model. Consumer ventures used to burn so much time and money that most high tech entrepreneurs focused on carriers and large enterprises. In order to assess demand for their wares, they would need to first develop the technology and a sales force to sell it, a 3 year proposition. If the entrepreneur had a track record of success, we venture investors would take our chances on the market and fund those first three years of operation."
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