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This is precisely why it seems nuts to me. Haven't they learned anything over the past 10 years, that products that are limited to a tech audience largely based
by brianstorms 12y ago
This is precisely why it seems nuts to me. Haven't they learned anything over the past 10 years, that products that are limited to a tech audience largely based in SF Bay Area, and ESPECIALLY a product that appeals to VCs and angels, is extremely, extremely niche-y?
So, duh, they're obviously gonna try to expand it to consumer verticals. Where it winds up being Pinterest with a Reddit/YC upvote/downvote UI. Not worth $7M total in funding imho.
And guess what. Consumers don't do deal flow. VCs and angels NEED a river of announcements all day long, and a way to gauge interest from others (that's the lemming DNA talking).
- gizmo 12y agoAs a general rule, making something that people with money care about is a good business strategy. It's niche-y, sure. Another word for that is "focused". Even if they end up pivoting in a consumer/pinterest direction (my guess is they won't) they can do very well. Reddit is valued at $500 million and pinterest at 10 times that, after all. I think that people tend to get really hung up on the dollar amounts involved here. Millions of dollars for something that's little more than a proof of concept seems like a lot. But it's not that much money in the big picture. Businesses and gov't squander millions of dollars on pilot projects all the time (but behind closed doors). As long as a couple of those projects make it big the economics of it still work out.
- bobsil1 12y agoYup. It's like all the funded meals-for-startups startups.