Is the startup echo chamber so bad that people literally get booed for asking how a startup will make money?
A startup is, at least in theory supposed to be a business(vs a side project, which doesn't have to be one). Have we forgotten that?
This article's either greatly exaggerating the prevailing attitude, or the tech community is in big trouble.
I've been to NYTM many times and in my experience you can ask anything you want, just don't sound link an MBA when you do it.
Understand that NY is the nexus of MBA speak. There are just so many corporate offices and financial firms and lawyers there -- NYTM is the one place that cuts through the regular NY bullshit and talks about technology for its own sake, not just as a conduit to make money. So if you get up and ask about synergies or exit strategies (or the worst offense, using slides instead of a demo) prepare to be booed.
I've only attended one NYTM so far, but the one time I witnessed somebody get booed for asking the "how will you make money" question, it certainly wasn't wrapped in MBA speak. The crowd response seriously saddened me - this sort of attitude will only detract from the amazing things going on in NYC right now.
The article is not very accurate. I've attended the NY Tech Meetup dozens of times and I've seen the questions "How will you reach a critical mass of users?" and "Aren't you doomed to fail because X already does the same thing?" asked a few times with no backslash whatsoever. The third one ("how are you going to make money") is the only one that gets the "boooos". BTW, I happen to like that. After all, the meetup is about technology and innovation and not about making money.
But Tech Meetup has its own peculiar etiquette, which is that there are certain questions that you simply do not ask. One, apparently, is "How will you reach a critical mass of users?"
Really? That's a perfectly legit question. I'm biased though...that is the first question I shoot out because I expect the founder to have some creative ideas about getting traction.
If you are building a site that requires critical mass and you have put in no serious thought to how you'll get users you are pretty doomed.
Kevin Rose depended on shilling his site on his show. Zuck had the freakin email address of everybody at school, I think. MySpace guys pushed myspace across the parent company's sites and at LA clubs.
Are all tech meetups like that? At the Boulder New Tech Meetup, every company is asked how they will make money. No one boos - it's acceptable, and completely expected.
I think it's a common misconception that every web company is innovating, when most are just using existing tech to solve a problem (or provide a solution that is better than the existing ones).
If you're developing some new technology that will change the world for the better, then I don't care if/how you'll make money. Otherwise, it matters.
I have mixed feelings about the money question. On one hand, it's good to hear if the founders have thought about it and have a realistic answer. On the other, there are so many different ways of monetizing things, many of them are obvious to anybody who's experienced in business, and the exact way in which a particular new business does it is probably not too important. Whatever works, works. And they may even have to try several different things to see which is most effective. But the "how do I monetize this" aspect is generic and reusable across many different types of businesses. It's generally not part of a startup's secret sauce. The product, the service, the "what problem are you solving that people will pay you to solve" element is.
Btw, I also attend Boulder New Tech Meetup regularly. Awesome series of events. However, as I write this I realize I just missed the Colo Green Tech Meetup tonight -- gah!
I've been to NYTM, and the booing for the "money" question seems to be all in good fun. More like an inside joke than a jeer. As andrewjshults said, it seems less about ignoring the the viability of the presenter's business and more about keeping the technology and novel aspects of the product front and center.
I had opportunity to present at one. This was when it was in the IAC building. I definitely recall them stressing even addressing audience about the money question; saying you can not ask the following we are here to see new/innovative things in tech. I'm sure many wanted to ask me how do you make $.
Better to fail early and often, right? As far as I'm concerned, I want to hear my harshest critics often. I'd rather take my lumps as early as possible.
[+] [-] il|15 years ago|reply
This article's either greatly exaggerating the prevailing attitude, or the tech community is in big trouble.
[+] [-] torrenegra|15 years ago|reply
[+] [-] nostromo|15 years ago|reply
Understand that NY is the nexus of MBA speak. There are just so many corporate offices and financial firms and lawyers there -- NYTM is the one place that cuts through the regular NY bullshit and talks about technology for its own sake, not just as a conduit to make money. So if you get up and ask about synergies or exit strategies (or the worst offense, using slides instead of a demo) prepare to be booed.
[+] [-] brianmwang|15 years ago|reply
[+] [-] torrenegra|15 years ago|reply
[+] [-] zaidf|15 years ago|reply
Really? That's a perfectly legit question. I'm biased though...that is the first question I shoot out because I expect the founder to have some creative ideas about getting traction.
If you are building a site that requires critical mass and you have put in no serious thought to how you'll get users you are pretty doomed.
Kevin Rose depended on shilling his site on his show. Zuck had the freakin email address of everybody at school, I think. MySpace guys pushed myspace across the parent company's sites and at LA clubs.
[+] [-] ryanwanger|15 years ago|reply
I think it's a common misconception that every web company is innovating, when most are just using existing tech to solve a problem (or provide a solution that is better than the existing ones).
If you're developing some new technology that will change the world for the better, then I don't care if/how you'll make money. Otherwise, it matters.
[+] [-] mkramlich|15 years ago|reply
Btw, I also attend Boulder New Tech Meetup regularly. Awesome series of events. However, as I write this I realize I just missed the Colo Green Tech Meetup tonight -- gah!
[+] [-] jesselamb|15 years ago|reply
[+] [-] paul9290|15 years ago|reply
[+] [-] joshu|15 years ago|reply
[+] [-] jasonkolb|15 years ago|reply