Segmented MySpace
Techcrunch has an interesting piece on Eons, a MySpace for older users, so to speak. The comments are very interesting.
My thesis is that the concept of social / professional networking and community building in a targeted mode will filter down to every aspect of society. This means, your alumni association will have its own MySpace / LinkedIn, but as a walled garden. The American Institute of Architects will have its own, as would the readership community of EE Times.
In short, the niche social / professional networking will offer much better venues attached to niche content, niche web services, etc. for advertisers to reach these audiences. Chowhound could have its own network of foodies. Vogue could have its network of shopaholic socialites.
Thus, if you are looking for opportunities to build little community portals like this, you could make a list of niche areas that you know something about, pick one that captures your fancy, pull together a few mashups, write some code, and you would very soon have your own media property. Try it!
If you can generate 1M page views a month, you can then hire FM to sell your ads, generate some revenues, and soon, flip the company. Just don’t take gobbles of venture capital. This is a bootstrapped or micro-cap type of opportunity.
Sramana,
Why this (over) active encouragement of ‘Built to flip’?
In a mature VC ecosystem like the US, BtF is just a small slice in the whole spectrum.
In India, the VC ecosystem is just emerging. IMO, giving importance to BtF will be detrimental for the ecosystem to take deep roots.
Is patience just a virtue. Or it has its place in the professional role of GP, LP, Founders, and other actors?
Cheers.
-Balaji S.
Good question!
It takes a great deal more maturity as an entrepreneur to build a Buit-to-Last company.
In the US, the public markets have become shaky, compelling everybody (VCs and entrepreneurs) to look for BtF deals. Coupled with that, a lot of angel money is floating around. That’s also a type of money that doesn’t have the patience to last 7-10 years. They prefer doubling or tripling in 2-3 years.
In India, the maturity issue is extremely key right now. Entrepreneurs simply don’t have the maturity to build lasting companies (there are some that do, but relatively few). Especially with first time entrepreneurs, it is much better to learn with smaller plays, build track-record with decent exits, etc.
Patience, for the right situation, has a role in this drama. But the right situation requires that many stars align at once. They usually don’t.