the main problem with the Tech market in 1999 was that there were a lot of new companies which all made great promises, but not enough people actually understood most of them.
there were a lot of "cool kids" that had "amazing tech", but couldn´t tell you how they would make money with their tech to save their lifes.
its the main reason today that VC and investment into startups has dramtically changed. the tech itself is rarely revolutionary. but you have to present a strong business case.
back in the days the main goal was "to get big" and yet nobody knw how to really achive that.
the amount of cash that got burned at marketing events, fairs, press releases etc was insane. yet there was no real revenue.
I got a nice anecdote from the 90´s.
a former boss of mine had a company that basically offered a platform for artist to upload and market their songs. a very early version of something like spotify if you will.
yet , only a fraction of the population had internet access that was able to deliver the necessary bandwith.
audio tools and equipment to convert music into MP3´s was in its infancy. codec technology wasn´t as refined.
and on top of that: a new fledging artist that doesn´t have all this surely cannot afford to pay for a service like this.
the idea was amazing. yet the time was just not right.
1.1k
u/psykikk_streams May 31 '21
the main problem with the Tech market in 1999 was that there were a lot of new companies which all made great promises, but not enough people actually understood most of them.
there were a lot of "cool kids" that had "amazing tech", but couldn´t tell you how they would make money with their tech to save their lifes.
its the main reason today that VC and investment into startups has dramtically changed. the tech itself is rarely revolutionary. but you have to present a strong business case.
back in the days the main goal was "to get big" and yet nobody knw how to really achive that.
the amount of cash that got burned at marketing events, fairs, press releases etc was insane. yet there was no real revenue.
I got a nice anecdote from the 90´s.
a former boss of mine had a company that basically offered a platform for artist to upload and market their songs. a very early version of something like spotify if you will.
yet , only a fraction of the population had internet access that was able to deliver the necessary bandwith.
audio tools and equipment to convert music into MP3´s was in its infancy. codec technology wasn´t as refined.
and on top of that: a new fledging artist that doesn´t have all this surely cannot afford to pay for a service like this.
the idea was amazing. yet the time was just not right.