I didn't have time to read though all comments, however, it appears to me that Google has a very strong and unique culture that is often credited for contributing heavily to the company's success. How does this factor into the why aren't there more Googles question? I don't hear the same things about Facebook so I wonder if in 10 years will they still be mentioned or spoken about in the same vein? In any case, the reason I mention this is because it seems like a very difficult part of a company to place a value upon. Perhaps this is why "Googles" escape acquisition...
Why There Aren't More Googles
151–160 of 161 posts
Re: Why There Aren't More Googles
#152I don't think there are more Googles out there because there aren't that many good ideas floating around. Yes, things move quickly in the age of the internet, but the truth is, if there were more ideas as good as Google, there would be more Googles. Duh!
It isn't about money or funding or even execution. It is about innovation and timing. Give it time. If someone has a Google worthy idea, it'll emerge because people with copy it, steal it, hack it, flame it, etc.
Or maybe it's because Google hired all the smart people and now they own anyone who has the potential to create another Google like movement, so all the VCs are doing are throwing good money after bad ideas.
Re: Why There Aren't More Googles
#153As a UK business who are setting up 'the next google' what you say is painfully becoming obvious. The people with the money see us as 'too risky', basically they are really stupid.
We've had to become super sales guys just to get them to even listen to us or even read the Executive Summary!
It's a strange and bizarre journey. Great to read what you have said, it confirms what we thought.
I suppose the strategy is to focus more on Angel Investors - something we need to look at more now. www.ibodnet.com
Re: Why There Aren't More Googles
#154Paul,
As always it is a very thoughtful and incisive article. However, I have certain reservations on Google trying to sell out, especially after I read The Google Story by David A. Vise and Mark Malseed.
I believe for young people (especially tech students), the idea is not to make a lot of money. It is more of a passion, a will to change the world. Yes, they may have failed as well. I may not say the same for people who are in the industry for long or MBA types.
Also at the same time it is a bit of luck, destiny or hand of God. More @ http://satya-dash.blogspot.com/2008/05/why-we-do-not-see-mor...
Re: Why There Aren't More Googles
#155I've been quite surprised by the "get more traction" argument. It's like, if I had traction, what the hell would I need you for! Aren't you supposed to be the cowboys of investing? Sheesh. Tell me my idea sucks, that I suck or that my market sucks, anything but "your company doesn't exist yet so we can't fund it." Sort of a self defeating argument.
Heh, I get the same thing. I am launching a service based business. Someday I am going to thank the 25 VC firms that gave me that "more traction" statement as I bootstrap the business.
Re: Why There Aren't More Googles
#156Earlier quoted context omitted.
Heck, I'm only 24 and I was just noticing that the other day. I remember when I was in second grade, and the year switched, I put the wrong year for months. Now the turning of a year just doesn't seem that momentous anymore. I wonder why time seems to accelerate as we age. Is it because we are more busy, and hence spend less time being bored? Or is it somehow related to the fact that any given year's memories are an…
I think it's largely the latter. When you have fewer memories, everything is newer, so each moment is more vivid. As time seems to slow when we have adrenaline rushes, the same with vivid experiences.
Re: Why There Aren't More Googles
#157I've been quite surprised by the "get more traction" argument. It's like, if I had traction, what the hell would I need you for! Aren't you supposed to be the cowboys of investing? Sheesh. Tell me my idea sucks, that I suck or that my market sucks, anything but "your company doesn't exist yet so we can't fund it." Sort of a self defeating argument.
When I pitched my previous startup, a few years back, VCs made us jump through those standard hoops:
us: here's our Powerpoint presentation
VC: nice concept, come back when you have a product
[1 year later]
us: here's our product, let me give you a demo
VC: nice product. Come back when you have one customer.
[6 months later]
us: great news, we just signed XYZ, Inc. (big name) as our first customer.
VC: congratulations. Come back when you have traction (that is, multiple customers)
....
True story. We eventually got funding, 3 rounds. In another post, I'll discuss the other lesson I learned in VC funding: don't raise money when you need money.
Alain - fairsoftware.net
Re: Why There Aren't More Googles
#158> The reason there aren't more Googles is not that investors encourage innovative startups to sell out, but that they won't even fund them.
The core problem is how investors are compensated. A managing partner's performance is directly linked to how many bad deals they avoid - avoiding "true negatives", minimizing "false positives". Because of this performance metric, investors are risk-adverse and I can't blame them for it. If we want innovation to be funded, the LP's need to tweak how the managing partners are measured. Managing partners are paid for their "insight" into emerging industries. Well, then penalize them for great deals that they passed on - the "false negatives". They should be accountable for the "false negatives" as much as the "false positives". That's what they are paid to do.
Re: Why There Aren't More Googles
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Re: Why There Aren't More Googles
#160thanks for the vote of confidence, funding deal fell through, but still with the big idea www.personalpediatrics.com