Some excerpts:
One day an entrepreneur ... gets an idea ... and starts coding. A few weeks or possibly days, a beta -- increasingly a euphemism for a not-fully-thought-out-product -- emerges.I am embarrassed to say, Findory had a beta, widgets, an open API, and a failed attempt in online advertising. No Red Bull though.
The buzz builds ... the entrepreneur rejoices. The VCs ... do a fly-by ... Eight weeks later reality sets in. The traffic stops growing or -- worse yet -- dives ... But as an ever-optimistic entrepreneur it's time to regroup, gather your programmers, toss back some Red Bull and ... launch a social network widget.
[Then] it's time for the big guns ... the open API. Now you're a platform! The startup ... founder rejoices again ... The money men get serious because ... [now] you have a Facebook strategy.
[Twelve] months later ... it's time for advertising .... But selling online advertising is hard ... It's time to consider reality. You could always try your hand as an ad network or merge with a competitor, but more than likely it's time to sell that domain name and user base on eBay or quietly shut your doors. Better luck next time.
Please see also the Underpants Gnomes' business plan.
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