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Lessons Learned During My  32-year Technology Joyride www.apcug.net www.CoolHotNot.com ® Dave Whittle   |   dave@coolhotnot.com   |   801-489-0605
Wearing Different Hats www.apcug.net www.CoolHotNot.com Marketing / Promoter Founder / CEO Consultant Technology                      Expert Presenter / Speaker / User  Group Member
What Makes  User Groups Thrive? www.apcug.net www.CoolHotNot.com  Understanding members & their needs (Strong Leadership & Marketing)  Helping members discover cool new possibilities with technology  A strong social component Giveaways & raffles (Free Stuff) User Group Presenter, Vendor Rep, & Member
How to Kill A User Group www.apcug.net www.CoolHotNot.com  Look out for #1; adopt a self-centered, combative  culture amongst leaders Don’t play favorites; withhold your judgment about products & technology  Make sure your meetings are formal Keep it professional - no giveaways User Group Presenter, Vendor Rep, & Member
Recommended: Enhance the “Group” in Users Groups www.apcug.net www.CoolHotNot.com Focus on user needs that are best met by a group, e.g. ,[object Object]
Positive social experiences
Mutual support
Entertainment & laughter
Raffles & giveaways
Vendor relationsUser Group Presenter, Vendor Rep, & Member
Trends With Major Impact on Users Groups www.apcug.net www.CoolHotNot.com  Users groups influence over tech product sales has been replaced by the influence of web sites  Vendor marketing spending moving online Societal transformation (Bowling Alone) Consultant
User Group Vs. Web-Influenced Retail Sales www.apcug.net www.CoolHotNot.com Consultant
U.S. Online-Influenced Retail Sales www.apcug.net www.CoolHotNot.com Consultant Users Groups Have Become Irrelevant
Vendor Marketing Spending www.apcug.net www.CoolHotNot.com Consultant
Challenges Facing Users Group Members www.apcug.net www.CoolHotNot.com  Picking right products is difficult at best  Times Have Changed: 		Need for useful information   		Is Now Information Overload Technology                      Expert
Traps Galore When Picking Products Too New Slick Ads www.apcug.net www.CoolHotNot.com Need to provide technology product guidance Misleading Features & Specs Biased Reviews & Ratings Technology                      Expert Bad Advice
Information  Overload www.apcug.net www.CoolHotNot.com How many users want to learn more geeky stuff at a User Group meeting? Technology                      Expert
CoolHotNot to the Rescue www.apcug.net www.CoolHotNot.com Founder / CEO
World’s Foremost  Team of Tech Experts John C. Dvorak Robin Raskin Chris Pirillo Cheryl Currid Dave Whittle Steve Bass Dave Graveline Jim Louderback www.apcug.net www.CoolHotNot.com Founder / CEO Consumer electronics media superstars

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Dave Whittle's Keynote - APCUG 2011 (Cleveland)

  • 1. Lessons Learned During My 32-year Technology Joyride www.apcug.net www.CoolHotNot.com ® Dave Whittle | dave@coolhotnot.com | 801-489-0605
  • 2. Wearing Different Hats www.apcug.net www.CoolHotNot.com Marketing / Promoter Founder / CEO Consultant Technology Expert Presenter / Speaker / User Group Member
  • 3. What Makes User Groups Thrive? www.apcug.net www.CoolHotNot.com Understanding members & their needs (Strong Leadership & Marketing) Helping members discover cool new possibilities with technology A strong social component Giveaways & raffles (Free Stuff) User Group Presenter, Vendor Rep, & Member
  • 4. How to Kill A User Group www.apcug.net www.CoolHotNot.com Look out for #1; adopt a self-centered, combative culture amongst leaders Don’t play favorites; withhold your judgment about products & technology Make sure your meetings are formal Keep it professional - no giveaways User Group Presenter, Vendor Rep, & Member
  • 5.
  • 10. Vendor relationsUser Group Presenter, Vendor Rep, & Member
  • 11. Trends With Major Impact on Users Groups www.apcug.net www.CoolHotNot.com Users groups influence over tech product sales has been replaced by the influence of web sites Vendor marketing spending moving online Societal transformation (Bowling Alone) Consultant
  • 12. User Group Vs. Web-Influenced Retail Sales www.apcug.net www.CoolHotNot.com Consultant
  • 13. U.S. Online-Influenced Retail Sales www.apcug.net www.CoolHotNot.com Consultant Users Groups Have Become Irrelevant
  • 14. Vendor Marketing Spending www.apcug.net www.CoolHotNot.com Consultant
  • 15. Challenges Facing Users Group Members www.apcug.net www.CoolHotNot.com Picking right products is difficult at best Times Have Changed: Need for useful information  Is Now Information Overload Technology Expert
  • 16. Traps Galore When Picking Products Too New Slick Ads www.apcug.net www.CoolHotNot.com Need to provide technology product guidance Misleading Features & Specs Biased Reviews & Ratings Technology Expert Bad Advice
  • 17. Information Overload www.apcug.net www.CoolHotNot.com How many users want to learn more geeky stuff at a User Group meeting? Technology Expert
  • 18. CoolHotNot to the Rescue www.apcug.net www.CoolHotNot.com Founder / CEO
  • 19. World’s Foremost Team of Tech Experts John C. Dvorak Robin Raskin Chris Pirillo Cheryl Currid Dave Whittle Steve Bass Dave Graveline Jim Louderback www.apcug.net www.CoolHotNot.com Founder / CEO Consumer electronics media superstars
  • 20. Why CoolHotNot Will Yield Superior Guidance Comprehensive Product Information Simplification (Less Is More) Aggregation of Reviews/Ratings/ Rankings Network Effects Credibility & Trust Measures Social Experience / Gamification www.apcug.net www.CoolHotNot.com High Founder / CEO Low
  • 21. CoolHotNot& Users Groups – A True Win/Win CoolHotNotprovides tech product guidance you can trust There is tremendous synergy between CoolHotNot and Users Groups CoolHotNot can be a resource for users group officers and members Let’s work together to serve your members www.apcug.net www.CoolHotNot.com Founder / CEO
  • 22. Examples of What I’m Talking About www.apcug.net www.CoolHotNot.com You provide traffic; we provide benefits for your members We’ll negotiate discounts with a wide variety of vendors with great products and make them available to users groups We help you gain users trust and make authoritative recommendations, e.g. Marketing / Promoter
  • 23.
  • 25.
  • 27.
  • 29.

Editor's Notes

  1. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  2. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  3. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  4. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  5. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  6. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  7. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  8. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  9. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  10. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  11. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  12. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  13. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  14. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  15. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  16. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  17. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.
  18. I appreciate the opportunity to share what we’re doing at CoolHotNot.Let me start by pointing out that we’re a new type of business that provides value directly to almost anyone with Internet access. We fall into a new category of web site called “Web 2.0,” which means that our web site supports an interactive community of users and facilitates the sharing of user-generated content which dramatically increases in value as more people share there.Other Web 2.0 sites include Facebook, eBay, Amazon, Wikipedia, Craigslist, YouTube, Twitter, Groupon, and dozens of other young companies each worth hundreds of millions or billions of dollars. The reason Silicon Valley venture capitalists are actively seeking out Web 2.0 startups like ours is because the profit potential is so incredibly high, and the risks are so relatively low. Web 2.0 startups don’t need any money at all for inventory, stores, plants, manufacturing equipment, or warranty support; and have dramatically low requirements for receivables, R&D, a sales force, advertising, product support, equipment, and even office space. Almost any well-executed site can become profitable, because the fixed costs are so relatively low and the revenue potential so closely parallels traffic growth. In short, we’re a savvy businessman’s dream business.Let’s now focus more specifically on CoolHotNot.