Web 2.0 Entrepreneur

Web2.0 is about technology, not money

• Posted by Tengku Zahasman on May 23rd, 2007 filed in Thoughts, Entrepreneurship


• (392 Views)

Reading Mike Arrigton’s recent post at TechCrunch really caught my attention and sparked some thoughts:

“When I look back at the pictures from those early events, I remember good times, and no one was talking about twenty million dollar venture rounds or selling out for a cool $1.65 billion. Companies like Meebo and Sphere literally launched in my living room in front of a couple of hundred genuinely interested people…

..snip..

It’s no longer about beautiful products and genius developers. It’s about the money and the status, and hot PR chicks and marketing departments.” - Mike Arrington

It’s true what he said. I’ve been hearing so much about new Internet startups seeking million bucks of venture rounds every month that I’m starting to get sick of it. Web 2.0 startups initially sparked off from tech enthusiasts and bright developers who believes in creating unique applications of their own that they love and hoped other people will love too. Money is not the first thing that comes into the picture. It’s the idea of making a difference that comes first - using Web technology as the backbone. Startups today seems to focus more on chasing the money, getting millions of capitals, and enhance their application with the intention of selling them off to some other giant companies like Yahoo, Google or eBay. This is what I don’t get. We don’t build applications to get capitals. We don’t build applications to sell them off. We build applications because we love it. If at a later time someone chips in offering a deal, then that’s something to be dealt later.

To me, real startup entrepreneurs are those who wishes to “marry” with their idea, developing the application till late at night with their small teams who also believes in what they are doing. Forget about capitals, they don’t mind starting off using their own money and credit cards, bootstrap all the way so that they could see their dream comes true. And they are the people who will cry if they had to sell their application to someone else. Isn’t it interesting to hear people create successful apps out of their garage or apartments? Meebo is an example. These are genuine entrepreneurs. “Profit” to them is the money that comes from the invention itself, not from those venturing rounds or hoping to be bought.

I suggest that you guys read that post in TechCrunch. Some of the comments are pretty interesting read as well.

If only Malaysia could have our own Silicon Valley….