There is so much money sloshing around, and people are so scared to miss a deal that they're willing to take all the risk up front. It's crazy, and doesn't work like that in any other industry I can think off..
And many other industries work this way. Biotech and oil & gas come to mind. In fact, the tax laws around carried interest were enacted to encourage oil & gas exploration.
Throwing money blindly and seeing what sticks doesn't seem to be the YC modus operandi. It is interesting to see the number of YC alumni who join other YC startups, or do a second start-up, with similar teams and a new idea.
I would hope to measure up to the YC standard, and get myself and my ideas accepted, when the timing is right.
B) Using other people's money is always a lesser risk.
C) Raising big money = big PR ("social proof").
That's what I thought.
IBM didn't survive the PC, none of the PC guys survived the web, and I don't think any of the web guys will survive the post-PC world
So he didn't say post-PC devices won't access the web (and actually, neither did I) but that web apps today will not survive. That was the point of my question.
But I fail to see how this relates to what I said.
I can still browse the web on my mobile device/tablet. The web is very much not in danger of being replaced by native "post-pc" device apps.
I don't think there's any other way to read that.
"There is no one in the world who I won't outlast. There's no way. There's no way. There's no way."
This description sort of reminded me of the way Sean Parker was portrayed in 'The Social Network'. Arrogant, irritating and fairly useless.
"IBM didn't survive the PC, none of the PC guys survived
the web, and I don't think any of the web guys will
survive the post-PC world,"
If there's one person in the Valley who you can ask difficult questions, it's Bill Nguyen. Instead, the author asks him about whether his wife likes the house on Maui.
A pop artists sells music, a company sells a product or a service. I'm not predicating my use of facebook based on whether or not Mark Zuckerberg did pot in college or got blowjobs from his secretaries.
So when you interview someone who isn't selling themselves, you don't have the freedom to ask those kinds of questions. Unless maybe you don't that person to ever grant you or your magazine an interview ever again.
Fast Company has always been breathless and brainless. They always present "business" in such a way to make it seem like all you need to be a rich, successful, famous, sexy entrepreneur is "a great idea" and maybe some fun personality traits.
They aren't in the business of reporting, they're in the business of titillating, teasing, and making their reader think "that could be me!" - exactly, in other words, the stuff I've dubbed entreporn:
http://cubic-m.blogspot.com/2011/09/entreporn-dictionary-def...
"I've got a pizza here with extra sausage." "Ohhhh, we lost our purses, however can we pay?" -- I DELIVER PIZZAS… IT COULD BE ME!
Political journalists encounter the same thing, but their success is less dependent on this availability - and people are buying their content for that criticism, not puff pieces.
Also there is the question of talent - don't you think a more diligent reporter would rather be working for a publication/in a subject area with more prestige?
I haven't visited the site since.
His biggest strength is he's an unbelievable salesman. He can talk pixie dust and make you want to sign on to his vision.
I believe the ability to sell your vision is the most important skill for an entrepreneur (which is too bad for me, cause I'm a coder and I suck at this skill).
You can't flip-flop more than that. I can't wait until Facebook incorporates their new ideas into the product and puts them out of business - assuming that this new business actually exists in the first place.
Then of course to turn around and say that Facebook is the answer to all things is pushing the irony very far…
The laughing stock is not Bill Nguyen, its the VC's that gave him the money. If you walk in a room and say Color and they laugh, they should really be embarrassed. How many of these same people wanted to get in on this deal before it launched? The really funny thing is that there will be someone else that comes in with a great deck and grand illusions of how they will be the next Facebook, the VC's will pump this person with money too.
I have a theory that conflicts with his thinking. If an app connects people it will trump an app that requires people to physically connect themselves. My test for this is "does this app work for users coming from a rural setting?". Facebook works amazingly well because it connects people. Color works horribly. Your app can be profitable and cool not working in a rural area, but it won't be a Facebook.
My psych major friend reads it and goes "yup that's a checklist for psychopathic behavior. Don't believe me?" then he links me the wiki:
http://en.wikipedia.org/wiki/Psychopathy
VERY interesting if you read the wiki on psychopathy and re-read the Bill Nguyen article.
I'll also be careful to state I'm not trying to say anything here - behavior is highly contextual after all. Take for example a professional fighter who can be a really nice guy, loving family man and friend yet flip a switch when the bell rings. You just can't say whether this man is violent or not - his behavior is contextual.
For all his negative qualities pointed out, at least this man is thinking something freaking different than a freaking share button with a varied alias. Color didn't go hit, but its far better than 90% of photo sharing apps out there. It at least does something different.
What these guys are selling is a photo app, what these guys are doing is that they are toying around with possibilities in sensing, VR and localization on mobile. Could very well be huge.
Here is a guy who thrives on persuading people. I think the average founder could always use a little more of the same skillset.
I'm reading the Isaacson book, and he reminds me of Steve Jobs. Everything is black and white, everyone is either a genius or a shithead.
And Bill Nguyen makes the manic Zuck portrayal in The Social Network appear shy and retiring by comparison. I'd love to meet him.