1.31.2006
I reserve the right to geek out occasionally.
This time it's business-y geekdom:
Another good post from Umair Haque @ bubblegeneration on market dynamics for VCs.
I think he's right on the general idea - that is; experience will lose some value while innovation/ideas become the new value driver - but may have some of the scale wrong. I think 'commoditized' is a bit of a strong word to use as it brings to mind grocery-store-chain economics rather than a relative drop in value.
I guess I'd see this as more of a rebalancing than an inversion of the way VCs currently operate. Smart, forward-thinking firms will create new business processes and structures to adapt to the change, and others will slowly lose opportunities, eventually destined to go the way of the dinosaur (yes, there's that analogy again).
- posted by vcmc @ 1/31/2006 03:09:00 PM
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His whole idea is based on the thinking that Friedman got it right... Suspect to say the least (God I hate that fucking book). His del.ico.us argument is weak, because del.ico.us also executed faster (and significantly better) than delirious. Also if execution was easy every startup back in the 90's with no product would have gotten somewhere, windows and Microsoft wouldn’t have the history that it does.
His post does kind of come across with a little "youthful excess", as he puts it. Almost like he resents VCs for whatever reason. Still, I think things are shifting in that direction, albeit slowly and probably to most, imperceptibly.
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