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I'm reminded that Maker Media was making a Magazine and a faire, and then took a pile of VC money and crashed and burned. It was a mess. The Magazine is back, t
by sircastor 3y ago
I'm reminded that Maker Media was making a Magazine and a faire, and then took a pile of VC money and crashed and burned. It was a mess. The Magazine is back, the faire is back but the whole debacle is a lesson learned that none of that was necessary.
- pierat 3y agoNo, get it right. The VC destroyed the Maker Faire and magazine because it did not make enough profit fast enough. Therefore it was more profitable for the VC to destroy the business and cash in the chunks left over. Venture capitalists are shit no matter how you look at it. And they will take sustainable businesses and dismantle them wholesale to squeeze a few extra pennies. I hope Make/Maker Faire will never again touch a cent of VC's money.
- jeron 3y ago>And they will take sustainable businesses and dismantle them wholesale to squeeze a few extra pennies. wait till you hear about private equity
- reaperman 3y agoThere’s a LOT of overlap there. VC is one form of private equity. And increasingly, VC’s are willing to execute some of the more traditional private equity strategies which you’re likely attempting to reference.
- sircastor 3y agoI don’t disagree that VCs and VC money is garbage and offered no real value here. The thing I don’t get is that Maker Media took the money at all. I understand believing in your business, but Make: subscriptions weren’t the next social network. There wasn’t that much growth to be had, and I’m scratching my head trying to figure out why Dale Dougherty thought there was.