Wednesday, August 30, 2006
Wednesday, June 14, 2006
Thursday, June 08, 2006
Whoa, been a while since my last post! Miss me? You did short TOL, right? Don't worry, yet more losses remain to be had.
Thursday, April 20, 2006
Thursday, April 13, 2006
Wednesday, April 12, 2006
Tuesday, April 11, 2006
Tuesday, April 04, 2006
If you run out, just wait few years. They seem to multiply.
Wednesday, March 29, 2006
Tuesday, March 28, 2006
Those who cannot learn from history are doomed to repeat it.
Saturday, March 25, 2006
- You don't need VC diesel to get your motor running.
- You can actually charge money for valuable services.
- You don't need mainstream tech to make a dent.
- You don't need to live in San Francisco to make it big.
- You don't need a swarm of worker bees to take off.
- Everybody else is starting a company.
- Your competition just got funded too.
- Talent is scarce again.
- You can't operate in obscurity anymore.
- Web 2.0 isn't all that.
- There's too much going on.
Wednesday, March 22, 2006
I haven't seen Brad since the last bubble. Welcome back, Inspector Gadget!
Monday, March 20, 2006
It's Not Web 2.0, It's The Next Net: "One particular quote that resonated well with everyone and has already started making its way around the Next Net world (in fact, it was just used by Adam Gross in a presentation he gave at the O'Reilly Etech Conference) was Bill Burnham's triple 'A' business model:
It's the triple 'A' business model: AJAX, Adsense and Arrogance."Despite the fact that essentially everyone in the room had embraced AJAX and many of the folks in the room had also incorporated Adsense in some way or other, everyone went out of their way to make clear that their businesses were in no way defined by the Double 'A,' let alone the Triple 'A.'" —VentureBlog
Friday, March 17, 2006
I'm just noting this so one day we can look back and reminisce. Whether it's "Remember when Google only spent $130M in a whole year?" or "Remember when Google could afford to buy things willy-nilly?" remains to be seen.
Thursday, March 16, 2006
This is going to end badly.
It wasn't so long ago that Six Apart was charging their customers 38 cents for their product. At that rate, they would have needed 31,578,947 customers to raise $12M. I assume their VC round was easier than that.
Does this mean that every other podcast will be four hours of hosts begging for money?
Wednesday, March 15, 2006
Monday, March 13, 2006
I don't get it when VC's bemoan bubbles. Dude, bubbles are where you make the real money. Just watch that timing.
The smart money is on AJAXian spell check and mail merge utilities, recipe management systems, and Solitaire.
Dude, scrabbleplayer.com is totally available!
Ever since I drank the Kool-Aid last year at the Web 2.0 conference I haven't posted much about the downside of the housing bubble, but this is important. I have nothing clever to add.
Saturday, March 11, 2006
The goodwill resulted from our acquiring strategic companies when valuations were high.'However, while we purchased highly valued shares, we were also in effect exchanging our highly valued shares at the same time so that none of the transactions resulting in the creation of large goodwill amounts resulted from a corresponding outlay of our cash. Had these transactions been done at different times when valuations were lower with exactly the same share exchange ratios, the goodwill amounts would have been considerably smaller. However, waiting for lower valuations may have reduced their strategic value or otherwise have allowed competitors to buy these companies thereby, eliminating an opportunity to strengthen JDS Uniphase.
"JDSU was $138 on 3/10/00 (adjusted for stock splits) and closed at $3.80 yesterday, almost triple its 52 week low of $1.32." —footnoted.org
We won't have achieved true bubbleness until a company once again spends $40 billion on acquisitions. Which will later be written off as "goodwill". (Thanks again to Valerie Thompson for the pointer.)
Friday, March 10, 2006
Maybe I should code up an AJAX mailmerge.
Thursday, March 09, 2006
I'd rather be cool like Warren Buffett than cool like Tim O'Reilly.
Monday, March 06, 2006
Friday, March 03, 2006
Thursday, March 02, 2006
Monday, February 27, 2006
I'd give $100,000 for a picture of Alan Greenspan wearing a WTF t-shirt.
Thursday, February 23, 2006
Wednesday, February 22, 2006
Tuesday, February 21, 2006
This makes me all sentimental thinking about my days at ichat. How much did AOL pay for Mirabilis again?
Monday, February 20, 2006
I'm going to start calling him Kevin "We're Back".
YouTube is not a real business: "I could set this up in a weekend with two kids in high-school and a couple of cases of Red Bull." —Jason Calacanis (Weblogs, Inc.)
Reminds me of a Dave Barry quote that showed up in the Fortune Feed this morning:
"I played lead guitar in a band called The Federal Duck, which is the kind of name that was popular in the '60s as a result of controlled substances being in widespread use. Back then, there were no restrictions, in terms of talent, on who could make an album, so we made one, and it sounds like a group of people who have been given powerful but unfamiliar instruments as a therapy for a degenerative nerve disease." —Dave Barry, "The Snake"
Sometimes capitalism tastes really great. Sometimes, no so great. Bon appetit!
Sunday, February 19, 2006
Friday, February 17, 2006
Yeah! Fast-food Tex-Mex! Yeah! Okay, so it's not exactly VA Linux. But at least you were able to get some shares of CMG, right? Right?
Overbuilding means cheap office space for startups. And other companies too, I suppose.
Thursday, February 16, 2006
Nice. Thanks to Tony D'souza, among others, for the pointer.
Wednesday, February 15, 2006
The fact that iVillage actually has earnings (at least BITDA) blows me away. In fact, the fact that they're still a going concern blows me away. I mean, seriously, "content, commerce, and community"? How Bubble 1.0!
Monday, February 13, 2006
Not since William Gibson's Disneyland with the Death Penalty have so many geeks been so enthralled by totalitarianism. [Holy cow! Has it really been thirteen years since that article came out? Oh man, I feel old. -ed.]
Sunday, February 12, 2006
Sadly, today's 20-somethings were teenagers during Bubble 1.0, and probably couldn't tell you who Jim Barksdale is. Youth is wasted on the young.
Friday, February 10, 2006
Thursday, February 09, 2006
Are the sustainable differentiation is...?
Wednesday, February 08, 2006
"You got your real estate bubble in my dot-com bubble!" Two great tastes that taste great together.
Tuesday, February 07, 2006
As Steve Perry once said, "Wheel in the sky keeps on turnin’... I don’t know where I’ll be tomorrow."
This may be Web 2.0's first true innovation: the all-launch-party startup (cf. The Onion's all-foyer mansion).
Maybe Disney and Cisco just iterating quickly on Allen Morgan's used dot-com investment thesis.
That's not crassness, that's the indomitable British spirit!
Monday, February 06, 2006
The Jeff Matthews vs Overstock bout is entering its 39th round and the action shows no signs of letting up. Riveting.
Friday, February 03, 2006
Underwriters made off with millions? Check. Buyers on the open market all consisted of underwriters' clients? Check.
Wednesday, February 01, 2006
"Sure, we're a public company, we missed our numbers, and our stock took a 10% hit, but who cares? We're worth so much it doesn't even matter!" Bubble on, Hornik!
Tuesday, January 31, 2006
Why is the rise called 'meteoric'? Aren't meteors actually falling stars?
Monday, January 30, 2006
So with $46M in venture money you can either develop drugs to treat blood clots, acute coronary syndrome, and atherosclerosis or let people watch TV on their phones. Weird.
I hope those profits are 'incredibly stronger' than in the first nine months of 1999, when Egreetings.com (now owned by American Greetings) recorded $22M in losses on $1.5M in revenue.
Davos 2006: Partying Like It's 1999: "Hands down, the best event at Davos was the Google party on Friday night. Never mind the glittering guest list, which included the likes of Michael Douglas and Shimon Peres (who gave an off-the-record talk). Let's talk about the wines..." —Fast Company Now
Among the favorites? Click Fraud 2004, Stupid Price Targets 2005, and Shaoxing [redacted] 2006.
Sunday, January 29, 2006
Friday, January 27, 2006
This is a joke, right? Right?
I hope the new boom will be longer than The Long Boom was.
Thursday, January 26, 2006
This is either a good sign the economy is picking up or a side-effect of the fact that ABIA has better food than any other airport in the country.
Wednesday, January 25, 2006
You really don't want your first press mention to describe you as "yet another" anything.
To quote They Might Be Giants, "Everything right is wrong again."
Best. Headline. Evar.
Tuesday, January 24, 2006
Sunday, January 22, 2006
Friday, January 20, 2006
Thanks again to Seth Levine for the pointer.
Thursday, January 19, 2006
I love reading the phrases "angel funded mobile start-up" and "venture funded wiki startup" in the same sentence. Thanks to Seth Levine for the pointer.
That list of startups sounds like an incantation. Maybe if you say it while waving a magic wand, it will turn a business plan into a pile of cash.
Wednesday, January 18, 2006
Miss The Number by a penny, lose $7B in market cap. Bubbles are not for the squeamish.
Let's hope this drama results in a book as good as Barbarians at the Gate.
When Steve Rubel talks about a crash it reminds me of a high school kid who, having taken his first sip of beer, starts talking about a hangover. Don't get ahead of yourself, Steve. We've got a whole lot more partying to do tonight if we're going to be hating life tomorrow.
Tuesday, January 17, 2006
Monday, January 16, 2006
I know, this is the third post in a row about Gather.com, but I couldn't let pass the fact that MarketWatch is simultaneously reporting the company's seed funding and speculating about the timing of its IPO.
Sunday, January 15, 2006
I bet Sun Microsystems can't wait to do another $500 million deal with another energy trading company.
Saturday, January 14, 2006
The company's website describes Gather.com as, and I'm not making this up, a place to, "connect around a Supreme Court nominee, an Umbrian chicken recipe, a new album by Aimee Mann, or your child's soccer game."
Thursday, January 12, 2006
It wouldn't be funny if it weren't almost true. (That being said, once it's actually true, it won't be funny any more. But it will be immensely profitable—for those who fail to miss the cynicism.)
These are among the axiomatic questions of The Bubble. Now just relax... surrender... give yourself up to the Flow... You're soaking in it.
Wednesday, January 11, 2006
Thus did Jonathan Abrams join Chris Hasset in the Crushing Regret Hall of Fame.
Tuesday, January 10, 2006
Monday, January 09, 2006
We're back, baby! Now let's see what we can do about that pesky NASDAQ.
Here's a hint. Yes, it's a Super Big Deal. Get over it.
Sunday, January 08, 2006
There were three kinds of survivors from the last bubble: the winners, who sold at the top, cashed out, and retired to Aspen; the carpetbaggers, who were only in tech because they thought they could get rich quick, who are now trying to flip houses; and the rest of us, who keep stepping up to the plate and swinging for the fences. Swing, batter!
If anyone even mentions Dow 2,000 in my presence, they're going to get hit. Dow 20,000 on the other hand will get you a round of drinks.
Saturday, January 07, 2006
Friday, January 06, 2006
I have nothing to add, except maybe, "Yeeee-haw!"
Thursday, January 05, 2006
Stewart Alsop is a journalist! He's a VC! He's both a floor wax and a desert topping! (Yes, an SNL twofer. Thank you, thank you very much.)
Browster Picks Up $5.8M: "Browster, which makes a free plug-in for web browsers, said Thursday it had secured $5.8 million in first-round funding." —Red Herring
"All the time, our customers ask us, 'How do you make money doing this?' The answer is simple: Volume. That's what we do." — First Citiwide Change Bank
I've earned way over $500,000 in my lifetime, but the last time I checked my net worth was somewhat short of $270 million.
Wednesday, January 04, 2006
Tuesday, January 03, 2006
Call me Ramses, King of d'Nile.