Say what you want about Bittorrent’s troubles, but the VCs here are basically ensuring that what few quality startups remain out there look the other way when VCs come knocking:
John Furrier, who’s got the scars from his venture-backed startup days chimes in, here.
Not being able to convince any of the 10 or so VCs I met to invest (and not accepting the terms from the couple of VCs who wanted invest) has proven to be a Godsend: had I raised money, we’d probably have less revenue to date, but far more costs. I’d be forced to lay off 30% of the company and I’d be Chief Nobody right about now…
Another thing 2009 will do is make entrepreneurs want to start modest, dare I say lifestyle businesses that turn a profit and create value… instead of faddish funadinistas with no business model, revenues or profits in sight.
As a side note, this just only adds to my bearishness on P2P as a business model and reinforces my belief that CDN have commoditized.
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