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Welcome to the Party, Slide
Attitudes are funny things. For instance, you might think that if I was developing and monetizing a blog toolkit product 18 months ago and had to put it on pause due to lack of investment, I might be a little bitter reading the following excerpt:
Max Levchin already changed electronic commerce as a co-founder of PayPal, an online payment service that is expected to process more than $40 billion in transactions this year.Now, he's tinkering with a new way to make money off Internet widgets - high-tech shorthand for the mini-applications planted on the personal pages of online social networks and other popular Web sites like Google.
Levchin's latest startup, Slide Inc., has emerged as the No. 1 widget maker so far, largely because its programming tools have made it easy for people to add more pizazz to the pictures and videos decorating trendy hangouts like MySpace, Facebook and Bebo.
You know, it's one thing to be sitting around at a bar somewhere, drinking a beer and talking about how you had a great idea that was stolen by the market. It's quite a different feeling to have spent six months working on an idea, including running a business plan, creating a marketing plan, identifying an audience, etc.
So what to do?
I guess nothing.
I mean, every 4 or 5 years I'm able to spot something that needs fixing. Each time, I learn more and more about how to take the idea and make a profitable business from it.
One of the lessons, unfortunately, is that when it comes to money it's a beauty contest. VCs want companies that have a "fundable management team" -- which means they look good and people feel comfortable about writing them big checks.
I'm just a little guy living in the boonies. I don't think people are ever going to think I look good or feel good about writing me huge checks (aside from consulting fees, of course). In addition, unless my team were to consist of the local pig farmer and the guy who runs the stop-and-shop, I'm not going to have one. Or at least a local one.
So you learn, you adapt. Knowing why things aren't working is the first step towards making them work. This year, I've worked on forming virtual teams (not so impressive -- difficult to get synergy without everyone being in the same room) and networking (getting easier due to things like FaceBook and LinkedIn)
Can I jump these hurdles? I don't see why not. Yes, it's depressing to have actually spotted the market trend and acted on it, including doing a lot of the work (which another company could have picked up, you know -- it could be (have been) a nice technology acquisition.). You can only NOT succeed so many different ways, and then things will work out.
So good luck, Max. It's a cool idea and I'll be really interested in how the monetization and growth rates look. It will neat to compare them with the projections I made, 16 months ago.
I wonder what cool new thing is next up for me? Can't wait to find out!
I think you have a great attitude! It is unfortunate that you missed out this time around due to the short sightedness of certain investors...but keep at it, your ship will come in!