A word of hope to entrepreneurs:
I just learned of another Web company that just got funded and will announce such on Tuesday. So, even after the worst week in the stock market in history and a pretty darn tough economy coming toward us, entrepreneurs are still getting funded.
Some things, though. The company getting funded has pretty sizeable adoption curves (millions of customers) and is in a hot market space and has a good business plan with a reasonable chance of making money.
That matches what Bob Ackerman, founder of Allegis Capital told me (that good VCs will fund good companies even if the world goes to hell).
Add into that the merger and acquisition activity that I’m hearing about over the next couple of weeks and some people are setting themselves up very well to survive the storm.
Anyone else have good news? We need more.
Scobleizer 
Will let you be the first to know Robert,
This month MAXroam will announce its first two hosted platform sales, we will also announce our expansion into Eastern Europe with a huge partner.
I was going to hold this back but your post gives me a perfect opportunity to announce some good news.
I think good products will always have no problem and I think MAXroam is perfectly poised, I was in the USA this week speaking to two companys who are spending in the region of $500k per month on roaming and want to reduce this.
I think things are tough but by watching costs and cutting down on non urgent expenditure everyone with a business model will be fine.
I am also of the opinion that good products will never have an issue with funding.
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Will let you be the first to know Robert,
This month MAXroam will announce its first two hosted platform sales, we will also announce our expansion into Eastern Europe with a huge partner.
I was going to hold this back but your post gives me a perfect opportunity to announce some good news.
I think good products will always have no problem and I think MAXroam is perfectly poised, I was in the USA this week speaking to two companys who are spending in the region of $500k per month on roaming and want to reduce this.
I think things are tough but by watching costs and cutting down on non urgent expenditure everyone with a business model will be fine.
I am also of the opinion that good products will never have an issue with funding.
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Pat: products that save companies money will do wonderfully during this economic storm as people have to do more with less.
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Pat: products that save companies money will do wonderfully during this economic storm as people have to do more with less.
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Robert,
The retail company that I work for just spent $500 million to acquire 49 stores from Albertson’s LLC. Publix is privately held and the largest employer in the state of Florida. They have made the Great Place to Work Institute list 11 straight years.
Companies that have done well in the past and are well managed will continue to do well, including investing for the future now while they can get bargains.
This is actually happening in pockets all over the retail industry. The spending is just selective. VC won’t die either, but it may spend money smarter for a time.
— Michael VanDervort
http://bestpracticeexchange.blogspot.com
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Robert,
The retail company that I work for just spent $500 million to acquire 49 stores from Albertson’s LLC. Publix is privately held and the largest employer in the state of Florida. They have made the Great Place to Work Institute list 11 straight years.
Companies that have done well in the past and are well managed will continue to do well, including investing for the future now while they can get bargains.
This is actually happening in pockets all over the retail industry. The spending is just selective. VC won’t die either, but it may spend money smarter for a time.
— Michael VanDervort
http://bestpracticeexchange.blogspot.com
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Robert,
There is a lot of money out here that still needs to get deployed. The VC funds that raised it have to get it plowed into companies over this next year, or it makes it that much harder to go back and raise another fund.
Are valuations coming down? Yes. But, deals are still getting done.
Chris
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Robert,
There is a lot of money out here that still needs to get deployed. The VC funds that raised it have to get it plowed into companies over this next year, or it makes it that much harder to go back and raise another fund.
Are valuations coming down? Yes. But, deals are still getting done.
Chris
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Pinch of salt: deals take months, this one would have already been in the works. But sure, positive news is good news, and VC isn’t going to dry up, there will always be money for good startups.
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Pinch of salt: deals take months, this one would have already been in the works. But sure, positive news is good news, and VC isn’t going to dry up, there will always be money for good startups.
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what do you have to say about this one scobes?
http://valleywag.com/5061910/fast-company-publisher-to-lay-off-20
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what do you have to say about this one scobes?
http://valleywag.com/5061910/fast-company-publisher-to-lay-off-20
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I am starting to work with a startup SaaS company, that has just closed it’s seed round for a few million. This economy happens to be a great thing for this software company’s sale proposition. They’ve had to turn money (albeit expensive money) away until the next round of funding later in 2009. I think the media has blown this disaster in the FINANCIAL sector way out of proportion for ratings and attention. All the companies I have been working worth seem to be growing at a reasonable rate or at least maintaining without much pain. Times like these can be hard for some but rarely become hard for all, and actually present opportunity for folks as well.
-Brendan Cosgrove
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I am starting to work with a startup SaaS company, that has just closed it’s seed round for a few million. This economy happens to be a great thing for this software company’s sale proposition. They’ve had to turn money (albeit expensive money) away until the next round of funding later in 2009. I think the media has blown this disaster in the FINANCIAL sector way out of proportion for ratings and attention. All the companies I have been working worth seem to be growing at a reasonable rate or at least maintaining without much pain. Times like these can be hard for some but rarely become hard for all, and actually present opportunity for folks as well.
-Brendan Cosgrove
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The good news is that we are living in the era of The Web and inexpensive technology.
Even if there is a recession, we are living FAR better than in previous decades that had normal economies
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The good news is that we are living in the era of The Web and inexpensive technology.
Even if there is a recession, we are living FAR better than in previous decades that had normal economies
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1. Gas is going down. Can’t believe I am HAPPY about it going under $3. I thought we’d have a new American Revolution once it went above a buck.
2. Merchants are panicked, so prices are on a downward trend, wheel and deal. Lots of sales. Service is better, people are NICER.
3. Useless Web 2.0 widgets are no longer sexy, UI without Architecture no longer in vogue. Good things, those.
4. Blogging social-media blabbers are being ignored. Amazing grace, how sweet the sound. Reap What Sow Entertainment. Quite fun watching the arrogant egos, deflate.
5. War almost passe’, not even an election issue. Would be perfect if the Feds would adopt the P.J. O’Rourke Middle East Policy: Carpet bomb, sell the population into bondage, plant the ground with salt. WW2 got us outta the great depression, or so that myth goes, so hey, World War III, the perfect economic cure-all.
Also depends who you are, if you are a securities lawyer, on either side, bad times are the best of times, litigation forever, powered-donuts circling the globe. And for the clergy, the worst of times and massive disasters, are great, people turn spiritual and attend church, giving more, obviously. For the TV Execs bad is good too, people stay home, watch more TV, but then ad revenue drops, so it might just break even.
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1. Gas is going down. Can’t believe I am HAPPY about it going under $3. I thought we’d have a new American Revolution once it went above a buck.
2. Merchants are panicked, so prices are on a downward trend, wheel and deal. Lots of sales. Service is better, people are NICER.
3. Useless Web 2.0 widgets are no longer sexy, UI without Architecture no longer in vogue. Good things, those.
4. Blogging social-media blabbers are being ignored. Amazing grace, how sweet the sound. Reap What Sow Entertainment. Quite fun watching the arrogant egos, deflate.
5. War almost passe’, not even an election issue. Would be perfect if the Feds would adopt the P.J. O’Rourke Middle East Policy: Carpet bomb, sell the population into bondage, plant the ground with salt. WW2 got us outta the great depression, or so that myth goes, so hey, World War III, the perfect economic cure-all.
Also depends who you are, if you are a securities lawyer, on either side, bad times are the best of times, litigation forever, powered-donuts circling the globe. And for the clergy, the worst of times and massive disasters, are great, people turn spiritual and attend church, giving more, obviously. For the TV Execs bad is good too, people stay home, watch more TV, but then ad revenue drops, so it might just break even.
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What is this fury of denial? Just had a roadshow in London and SFO. Statistically consistent if compared with the sole case you’re putting in front of us. And the results is a disaster. Nada. Oh, and the company makes $7M with 50% Q/Q growth rate…
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What is this fury of denial? Just had a roadshow in London and SFO. Statistically consistent if compared with the sole case you’re putting in front of us. And the results is a disaster. Nada. Oh, and the company makes $7M with 50% Q/Q growth rate…
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