I agree with the referenced article, the term has been devised to be derogatory. In the past these sorts of businesses, with no VC ownership, were called softwa

I agree with the referenced article, the term has been devised to be derogatory. In the past these sorts of businesses, with no VC ownership, were called software companies. Now they are called "lifestyle businesses", a term that calls to mind a precious hobby, but one that is not taken seriously by customer, the market, or even the owner. Hearing that the business is not a serious one but just a means to leisure, customers get the message that when the owner tires of his hobby he will move on, and customer support is at the whim of his leisurely schedule. I don't use the term. I call it a software business. Call it an independently owned small software business if you like, but lifestyle business is definitely a derogatory term carefully chosen to make independent software companies seem non-serious.