The myth of failing fast, failing cheap
Loads of discussions in the last year about VCs being obsolete. Computing and bandwidth are cheap enough that guys in garages take something from launch to sale without ever taking capital. MyBlogLog did it. I recently turned down money because I could prove the idea cheaply.
And then there’s Mark Pincus. He’s convinced that his idea will be huge, and he’s gone from zero to 27 employees in six months and just announced $10M in funding from some of my favorite people. All while I was screwing around trying to prove my ideas were viable. Kudos, Mark. Lesson learned.
(Length: 100 words)
