Caught up with some of the crew last night @ Bot : The Investment Banker; The Corporate Strategist; The Podcaster and Myself. There is definitely a joke in there somewhere. One of the topics was market correction (3-10%) and impact on the 2.0 space.
Turning on Ch 2 when I got home, a 65 yr old analyst mentioned 1987 parallels, in which there was a tremor a few months before the big crash. A focus on fundamental value, making money and growth are 3 very basic principles to protect one’s business from those who will enjoy a perceived down market to ratchet down valuations and enforce more restrictive terms sheet.
If Web 2.0 is a google aftermarket as Dave Winer said, and I dont disagree with that, then Google is the public market proxy for Web 2.0 and if google was hit 15-20% that would definitely hit. Although locally with the bubble only just beginning to come back, it would be disappointing if it popped before forming I think everything will be fine : nothing could be worse than the last crash ! Oh, and I got thru the 2 series of Deadwood (24 eps X 56 mins each…) now i just need series 3…
Internet Outsider : “For the past few years, meanwhile, Internet entrepreneurs have become ever more brazen about not needing a business model in order to cash out big (and who can blame them, given the bounteous rewards that have gone to Google, MySpace, YouTube, and dozens of other companies that postponed revenue for as long as possible–not to mention the vast amounts of venture capital that keep pouring into the sector?). This is reminiscent of the late 90s, when all that was needed (apparently) was a business plan.”
Al Swearengen: In life you have to do a lot of things you don’t fucking want to do. Many times, that’s what the fuck life is… one vile fucking task after another.