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Even the Smartest VCs Sometimes Get it Wrong – Bill Gurley and Regulated Markets

Steve Blank

He illustrated his talk with regulatory horror stories in the telecom market , electronic health records , and Covid antigen tests. Unfortunately, for startups entering a regulated market following this advice this might not be the optimum path. It’s the antithesis of how founders want to build a business. Why is it bad?

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The future of search is being reinvented with generative AI

VC Cafe

But two years after Google came to the fore in 1998, Google became the number one search engine and “Googling” has become synonymous with web search. Sure, there is Bing, DuckDuckGo, Ask.com and a few others, but no one comes even near Google in terms of market share or mind share (90.

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Why Pioneers Have Arrows In Their Backs

Steve Blank

Over time the idea that winners in new markets are the ones who have been the first (not just early) entrants into their categories became unchallenged conventional wisdom in Silicon Valley. The irony is that in a retrospective paper ten years later (1998), [ 2 ] the authors backed off from their claims. First to have a working model.

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New Rules for the New Internet Bubble

Steve Blank

The Golden Age (1970 – 1995): Build a growing business with a consistently profitable track record (after at least 5 quarters,) and go public when it’s time. Dot.com Bubble ( 1995-2000): “ Anything goes” as public markets clamor for ideas, vague promises of future growth, and IPOs happen absent regard for history or profitability.

Internet 334
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10 CEOs Who Made Huge Mistakes

Up and Running

However, one area where he fell short was in ignoring the search engine market. While Microsoft introduced MSN Search in 1998, the site purely used an existing search engine, Inktomi, to gather results. One of his biggest mistakes since starting his business came in 1994, in the form of Virgin Cola.

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Revenue Development

K9 Ventures

We really were doing the i-thing before Apple came out with its first iMac in 1998. It wasn’t that they didn’t want to pay, but for anything above a certain dollar amount, it had to be a committee decision, and Universities are a notoriously bad market to crack (probably second to the government). The product worked.

Revenue 72
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Gaming is Eating the World

VC Cafe

Newzoo estimates the global games market revenue at approximately $150 Billion in 2019, across all platforms, devices etc. This makes the gaming market already much bigger than the movie or music industries combined. 2019 Global Games Market – Newzoo. 2019 Global Games Market – Newzoo. Billion in 2019.

Global 131