Zitat des Tages von Bill Gurley:
I think one thing that may have happened with both Facebook and Zynga is that they may have waited too long to go public. They got particularly cute on that front.
If one asserts that buying customers below what they charge them is a corporate strategy, this is in essence an arbitrage game, and arbitrage games rarely last.
Almost everybody who thinks about local thinks about daily deals, but companies like OpenTable and Zillow and Yelp are all getting their money from the local market.
I have never seen Jeff Bezos, Marc Benioff, or Reed Hastings complain about being public. Nor have they ever argued that being public prevented them from doing things with a long-term focus.
It's not for everybody to tweet, it's for everybody to follow. The more people figure that out, they see it's RSS-plus. It's literally the place you check for information.
Having an investor on your board of directors who is naive about public markets or finds them complex or scary is non-optimal.
I think one of the key differentiators I bring to the table as a venture capitalist is a solid understanding of the public markets and how they operate.
Many consumer Internet business executives are loyalists of the Lifetime Value model, often referred to as the LTV model or formula. Lifetime value is the net present value of the profit stream of a customer.
