This is an incredibly international group – which is a key concept in the new world
Advertisers ultimately pay for engagement – not just reach. The social services have both – they need to figure out how to scale the advertising model. This will come – it has to for everyone’s sake. The consequence is that they (and IM) are the new portals – Yahoo (as we can already see) is toast or needs to be reinvented.
Open source has taken over the technical world. Maybe the mixture of open and control, like the Chinese model works – they Have annual GDP growth over 10%, even bad estimates are 7-8% while the “developed” world is staring down 0-2% at best.
This was impossible 7 years ago – when Netscape sold to AOL it was game over in the browser war. Watch Chrome take 20%+ by 2010
Knowledge. Commerce. Now images. This is a profound shift and changes they way we can share knowledge and do business.
The cloud is only just beginning.
What a time to be an entrepreneur – so much knowledge out there and so much support http://www.seedcamp.com/ http://opencoffee.ning.com/ http://www.paulgraham.com/badeconomy.html http://www.techstars.org/
Peers in over 80 cities aorund the world
But times are really bad – and could be for many years. The trailing indicators – steel, gold, financial services, energy, tech/media and telecoms are all very negative right now. People are spoke. Some major economies will go into depression.
Web is huge and no longer American…. It is global. Look to China, Russia, India (mobile web), Brazil, Poland, Japan, Korea, Turkey etc to really start becoming even more major as web forces. Of course the UK, France and Germany are already multi-billion $$ web markets and Spain is emerging as a serious force and gateway to Latin America. This is the most profound impact – that I think the US (and the Valley) does not fully get – the web is global, and so will innovation.
And elsewhere – VCs have plenty to deploy
If you get this new world and know how to take advantage – you have a great shot at building a killer company. Think different
Capital will concentrate – big funds will get bigger, small ones may disappear and only professional money will stay in this market