Kleiner Perkin’s iFund really has the criteria for mobile success nailed. For the quick hits, here are what they call the “10 Criteria for iFund Success”:
1. Inherently mobile use cases
2. Context ver content
3. Real-time, immediate utility
5. Frequent usage
6. Inherently viral
7. Massive scale possibility
8. Natural business model
9. Cross-platform with mobile integral
10. Take full advantage of iphone platform
What is that I want to do in this bubble? As I said, in this one, the valuations are not going to be based on concepts. I think they are going to be based on either large networks of 10s or 100s of millions of users, or they’ll be be based on high revenue growth, or maybe a combination thereof. I would use the money to buy scale as quickly as possible. I would use the money to buy visible as quickly as possible. Not for BS, but to promote the first two items. And that’s an opportunity that can easily be squandered if you don’t think about it strategically. The goal in this bubble is to be the largest possible business, not to become boo.com. Boy if you are smart entrepreneur with a big pile of cash, I believe you can engineer a liquidity event from God.
Here’s the entire video, cued to the right spot. Enjoy!
My aunt forwarded me this video. It’s fun to watch. Interestingly, it’s an ad created for t-mobile. Some people think that future will be ads that are engaging that you will *want* to share with your friends. Well, this video is at least one example of such an ad. Enjoy!
Hollywood may at last be having its Napster moment — struggling against the video version of the digital looting that capsized the music business. Media companies say that piracy — some prefer to call it “digital theft” to emphasize the criminal nature of the act — is an increasingly mainstream pursuit.
Looting? Capsizing? Theft? Piracy? Really?!? To remind everyone, here’s a picture of real pirates in Somalia today:
Notice the use of violent weapons: guns and rocket launchers. Recall that they are attempting deprive someone of physical property. Physical property, unlike so-called intellectual property, can only be owned by one person at a time. Also, they take the crew hostage and hold them for ransom.
In contrast, sharing of digital goods increases the public good at no harm, on the margins, to the original owner. Remember kindergarten? Sharing is good!
The only plausible argument against sharing is that freely sharing may reduce the incentive to create content in the first place. But that argument only holds if (1) less entertainment content were created because of sharing and (2) the amount of lost value exceed the massive benefit to consumer of cheaply and easily accessing the content. As far as I can see, there has been no discernible decrease in the creation of good or crappy content in the five years or so.
Labels and studios may hurt from online sharing because it disrupts their control over distribution. But the artists? New artists that are creating the new content actually benefit from this alternative distribution mechanism that avoids the usual payola necessary through labels and studios. In fact, I think that digital distribution is creating a greater incentive to create content than previously. If we waste all our resources in a futile effort to protect vested interests, we are certainly going to get passed by other countries that side with the future and not the past.