A Series of Small Things
Random Thoughts on Building Venture-Backed Companies in the Midwest
Here, Oracle, Oracle…
12.4.12 by Dov
Come and get it! IDC thinks we could see $25 billion in SaaS acquisitions in the next 20 months. We’ve got some companies who’d be willing to discuss allowing Oracle or SAP to benefit from owning them.
Why Facebook’s face-plant is a good thing
8.24.12 by Dov
Quick – what do Facebook (down 50% since its IPO), Zynga (65%), and Groupon (83%) have in common?
Kent Bernhard argues that the disaster that is publicly-traded Facebook is a good thing because “Startups will have to prove themselves as business instead of just services”. And while he’s focused on Facebook, presumably it’s true of the other recent high-profile venture-backed “eyeballs without profit” companies.
If only it were true. I’m pretty sure we were all told that investors had learned this lesson once before. If the third time’s the charm, I think we have one more bubble still to go.
A whopper of a social media mistake
1.30.12 by Dov
McDonald’s apparently got a big fail on their recent attempt to get Twitter users to share their stories about all the great times they’ve had at the restaurant. Instead, they got a bunch of people sharing stories about bad food, restaurant cleanliness (or lack thereof), and flatulence.
When the tweets started to go negative, the golden arches pulled the campaign (though pulling the hashtag is another story). At this point, searching for #McDstories on twitter turns up almost entirely tweets about the failure of the campaign, so it seems to me that they missed a great opportunity here.
Was letting the campaign continue doing serious harm to the brand? How many billions have been served now? There were a total of 73,000 mentions of McDonald’s on Twitter the day the promotion ran. And only about 1,600 included the #McDstories tag. And some portion of those were presumably positive or neutral (for example, one tweet I saw described seeing a toddler dive off of a table at the restaurant – not happy, but not a negative reflection on McDonald’s). So, maybe 1,000 people in the world were writing bad things about McDonald’s that day. I’m guessing the number of people per day who tell their friends about their bad experiences at McDonald’s (or any large brand, not to pick on them) is orders of magnitude larger than that.
Why not take advantage of the social engagement by interacting with those with negative experiences? Promise to fix things. Ask for advice. Apologize. Send coupons. I suspect the social media press would have spun the story a completely different way, and McDonald’s wouldn’t now find themselves buried under bad #McDstories press.
Study: Nearly 80 percent of college students can’t figure out QR codes – Yahoo! News
1.2.12 by Dov
Warning all marketers:
Study: Nearly 80 percent of college students can’t figure out QR codes – Yahoo! News.
Groupon Shares Rise Sharply After I.P.O. – NYTimes.com
11.4.11 by Dov
Around the world, fervent believers in efficient markets just threw up a little in their mouths (sorry for the image).
Groupon Shares Rise Sharply After I.P.O. – NYTimes.com.
Google v Facebook, continued
10.11.11 by Dov
So, I recently signed up for a Facebook account. Yeah, I know, welcome to the 21st century.
I was doing just fine without one, though. In fact, the only reason I did it know is because I was forced to in order to comment on some website.
Once in, though, I figured I’d see what all the fuss is about – after all, 800 million people can’t be wrong, right?
As those of you who regularly read this blog know, I’ve also experimented with Google+, which I actually like – though I’m certainly not a power user by any stretch of the imagination. I use it about as often as Larry and Sergey, though, so I figure I’m in good company.
In any case, now that I’ve at least logged into both, I feel that I’m qualified to compare, and I know you’re all dying to hear the results (by the way, “Facebook vs Google Plus” returns 10.5M hits in Google for those of you who actually want a thoughtful comparison).
I’m going with Google+. Facebook makes my head hurt. Yes – I’d have WAY more friends in Facebook, from what I can tell. For just having logged in, it did a great job of figuring out people I know, etc. And I am going to keep the account, so I can post comments across the web (and links to this blog – maybe that’s how you found this post?). But it seriously makes my head hurt.
When I post, I have no idea who’s getting to see that post. When I edit my profile, I have to idea who’s going to see that I made a change. I tried to look at the privacy settings, but there are literally hundreds (thousands?) of different checkboxes to be set, along with videos explaining what does what. I’m sorry – but if I need to watch a video to figure out how to keep total strangers from seeing my birthday, it’s too complicated. And yes, I know you can’t actually see my birthday – but you get the idea. And as a result, I’m not going to post anything except the continued links to this blog (which are created automagically). And I’m not even sure if anyone can see those.
So, Facebook continues to grow, while Google+ is struggles. You can sort of tell where this is headed (i.e. Google giving up), and, apparently, I’m the only one who will miss it.
Is New York’s Tech Boom Sustainable? – NYTimes.com
9.27.11 by Dov
Is New York’s Tech Boom Sustainable? – NYTimes.com.
Google v Facebook
6.30.11 by Dov
So, Google+ is all the (pardon the pun) Buzz since it’s launch on Tuesday. And apparently, people like it.
We’re having a bit of an internal debate here on whether it’s a legitimate competitor to Facebook. Part of the answer depends on whether Google sticks with it or throws in the towel early, but let’s assume they’re in this for the long haul.
In that case, my bias has historically been that it’s really hard to start a new social network – even if you’re Google. There’s so much inertia from users already having all of their friends, etc. in one place. But Web 2.0 has changed those dynamics somewhat. Unique identifiers like OpenID and public APIs (such as Facebook’s) make it much easier for users to transition – or for that matter, to tie multiple social networks together. Why couldn’t Google use Facebook’s API to ease the transition by helping to recreate networks and pull in content? Could Facebook shut off Google’s ability to use the data that they already make available to so many others? I suspect not without facing anti-trust attention of their own.
So, I’m taking the position that if Google can introduce a new way to think about social networking that appeals to users (though the jury’s still out on that), and particularly if they enable some integration with Facebook over time, I don’t think users’ existing networks and content in Facebook will keep them from also joining Google+, and perhaps eventually shifting over completely. And, I suspect, the ability to share with your “real” friends, family, colleagues, etc. on a selective basis will appeal to many people who are worried about the “all hanging out” aspect of Facebook.
What do you think? Looking forward to ditching your wall? Or is FB your BFF?
You are currently browsing the archives for the Internet category.
Archives
Categories
- Allos (17)
- Company Operations (18)
- Marketing (4)
- Entrepreneurs (43)
- Fundraising (18)
- Internet (10)
- Life (9)
- Mobile (1)
- Portfolio Companies (5)
- Uncategorized (1)
- Venture Capital Industry (23)