Bubble Or Boom
At this week’s Web 2.0 Summit (BTW, isn’t it time for a Web 3.0 event?), Fred Wilson and John Doerr engaged in a spirited debate about tech bubble vs. tech boom. Wilson (the pessimist) says there are storm clouds on the horizon – and we may be in another tech bubble that could burst, as has happened several times before. Doerr (the optimist) says we in a boom and bullish growth will continue.
Others, like Jason Calacanis, have commented about plural bubbles. Some, like Chris Sacca and Dave McClure have voted with their funds and demonstrated continuing enthusiasm for startups.
None of this bubble vs. boom talk should scare aware true startup entrepreneurs and founders. There is always room for innovative ideas that solve real world problems. While funding ebbs and flows and darlings inevitably emerge, most worthy startups can and will continue to secure some early stage funding.
The best advice I can convey to those who want to jump into the tech/Internet startup world is, be passionate, authentic and dedicated to your pursuits. Don’t worry about being an “expert” in your field and don’t worry about lack of funding. Ambitious amateurs with a great idea and huge market potential are valuable and will attract early stage funding, regardless of market conditions. The rest is all about execution.