The New Boom -- Not Coming to an IPO Near You
turbotodd 100000388Y Visits (1719)
"new boom" is no exception.
His view on the Web Two-Point-Oh renaissance in Silicon Valley is that the new boom will bring some sanity to this turn on the dot com joyride, and that, despite the recent Google-hype, this bubble won't burst.
Why? Mainly, people learned their lessons from 1999 (did we really party like it was 1999?), and that this boom has a sturdy foundation driven by sound economic fundamentals.
Start-ups are taking the angel fund route versus VCs (i.e., more rational allocation of capital), and are watching their pennies like a hawk. They're also using open source technologies and outsourcing strategies, creating efficient businesses out of the gate which are driving profitable revenue streams early on.
I know, I know, we all miss the sock puppets and $20 million Super Bowl TV ads...those were the days. But reality has set in pretty much across the board...well, save for the part about where the owner of dog.com recently paid $1 million for Fish.Com.
Today, it's all about the innovation and organic growth, which is probably just as it should be.
But it is really nice to bask and reminisce about the boom of the Internet boom, when a good Media Metrix report meant another $50M in pre-IPO market cap and lots of expensive parties and boondoggles with the digerati.
And all those tchotchkes, with names long since forgotten, like PointCast. Excite...I can't remember the rest. All those tchotchkes that now sit around my cubicle like some dot com museum.
Except for the Google towel. That one I'm saving to sell on eBay. ;)