Going into Garage-mode
Lidija Davis on ReadWriteWeb summarizes current VC advice for startups and entrepreneurs:
Go back to the garage. That's the message venture capitalists at the Dow Jones VentureWire Technology Showcase in Redwood City CA today, are offering to entrepreneurs and startups.Expect to hear startups saying "yeah, we've gone into 'garage-mode,'" modeling after the term "stealth-mode." The only trouble is what to do with all the boxes?In the midst of one of the worst economic crises the world has seen, investors are in the main optimistic, and agree that to weather this storm and come out on top, today's entrepreneur's need to change their mindset and go back to basics: go back to the garage, and success will follow.
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You know you're in trouble when the only advice they can give you is move into your mother's garage.
having been in a startup in '99, i realize there is a ton of waste. the company i worked for spent 36 million dollars in one year and went BK. we were escorted outta the building and we had to go to an auction to buy our stuff back.
so 'going garage' will weed out the boys/girls from the men/women! and if you need inspiration, there are a lot of interesting work related things (and stuff for entrepreneurs and start-ups) on a cool site i found: http://www.iget2work.com
if nothing else, you'll get a few laughs!
This makes me want to go back to professional organizing. Hell, Silicon Valley- I will clean out your garages so you can move your companies into them.
"Screw marketing and sales budgets, we're not even paying for your office. Call us once you have actual positive cash flow for a few years. We're broke."
I think that about sums it up. So, whole we're seeing innovation shut down for a few years, we'll also see a lack of over funded vaporware too.
@Dorothy: the VC methods changed this time around. In '99, it was "spend big, grow fast, then we'll IPO and get rich!" This time, the VCs jumped in without any kind of exit strategy, but with lower budgets overall--so the bust has been less awe-inspiring thus far.
Oh, to have a garage to begin with! Aren't all the startup shareholders bankrupt and living in one-bedroom apartments or renting a single room as they "get real" and take any job that actually pays in legal tender? Not a lot of opportunity for constructive efforts there!
Hello?!? The reason that the economy sucks is that the Fed destroyed $1.4 trillion of the $1.8 trillion commercial paper market, which will take down more than just auto manufacturing with it if it's allowed to continue. Please contact your congressional representation and ask them to repeal section 128 of the bailout bill.