Okay, I am a child and a graduate of the web 1.0 bubble-era, so I have learned a lot from it, but may be not good enough to some. But do you remember that one guy, I can’t remember his name right now, but he’s from the Silicon Valley area. He had a very successful dot com company; he became an instant dot com millionaire (well on papers) in that era.
When his company received plenty of VC funding and eventually made the IPO, he had gone out and spent millions (on paper), buying huge houses, cars, etc., without having his company actually made any money.
So, after the collapse of the web 1.0 thing which also caused his company to fold, the banks came and took away all of his possessions. Perhaps not knowing what else to do, he was probably more embarrassed than being disappointed, he then left for Asia and joined the Monk convent, but no biggie, and it’s all good, right? Right!
My question is this, after the dot com 1.0 bubble, what were you doing between 2003 and 2005 when they were starting Facebook, MySpace, Friendster, Hi5.com, and some of today’s most successful dot com 2.0, web based applications and social networking sites?
Well, for me, I had gone back to school, and I passionately dislike myself because this entire web 2.0 thing caught me asleep. I didn’t see it coming. I guess I initially looked at their business models and said, hmm, they are just another TheGlobe.com wanna-be’s. Do you remember TheGlobe.com? I’d say that TheGlobe.com was the first social networking site for the web 1.0, but it’s too bad, it didn’t survive the bubble.
The question is; if you are an Internet aspiring entrepreneur, what were you doing between 2003 and 2005 when they were starting MySpace, Facebook, Digg, and the late coming, but fastly growing kid, YouTube?
Do you think there is still a room for another web startup to make it?