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(Ozy)   Venture capitalists are hiring back the same idiots to run their new Internet startups that ran them into the ground the first time   (statesman.com ) divider line
    More: Asinine  
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7047 clicks; posted to Main » on 01 Jul 2003 at 5:21 PM (12 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2003-07-01 03:04:40 PM  
You mean I'm going to have a job again! Woo Who!
 
2003-07-01 03:07:02 PM  
If at first you don't succeed try again.
 
asv
2003-07-01 03:39:37 PM  
Any VC will tell you that BAD startup experience is just as good if not better than GOOD startup experience.
 
2003-07-01 05:25:05 PM  
Any VC will also tell you that a tunnel infrastructure is an excellent tool for guerilla activities in canopy jungle terrain.
 
2003-07-01 05:26:09 PM  

stpid

 
2003-07-01 05:26:10 PM  
maybe so, Asv. In any case, everyone assume the crash position as the economy is going to make a water landing...
 
2003-07-01 05:26:55 PM  
I thought it was the business models that did in these ventures as much as the bubble that was bound to burst, not the people. Unrealistic expectations, irrational exuberance and all that.
 
2003-07-01 05:27:56 PM  
And God forbid these people have to go get a real job...keep giving them money to lose. They are really good at it. They have proven themselves in the marketplace
 
2003-07-01 05:28:32 PM  
Me no VC!! Me no VC!!
 
2003-07-01 05:29:02 PM  
Next Bubble that will occur: either WiFi, or nanotechnology. Neither, in my opinion, are very viable, but each keeps getting a lot of press. Really, how many people need WiFi hotspots on a regular basis ?
 
2003-07-01 05:29:31 PM  
Uh, the intelligence of the VCs aside, isn't it pretty much a Good Thing for our ecnonomy if more money is flowing at the lower levels, and new businesses are starting up again?
 
2003-07-01 05:30:26 PM  
um... what's WiFi?
 
2003-07-01 05:30:53 PM  
"If at first you don't succeed try again."

I don't know where it's from but "If at first you don't succeed, skydiving isn't for you.."

and...

"It's called trial and error not trial and success."

I have no point, just a little time and an internet connection.
 
2003-07-01 05:31:10 PM  
Hey, employing morons in key places is what's made the Airline industry the incredible success it is today.
 
2003-07-01 05:31:35 PM  
VC numbah ten.

Okay, last one.
 
2003-07-01 05:32:10 PM  
[image from us.st5.yimg.com too old to be available]
 
2003-07-01 05:33:52 PM  
I'm looking forward to the nanotech bubble. I should be able to invest, ride the hype, and sell before the inevitable crash. Big money! No whammies!
 
2003-07-01 05:38:50 PM  
Hey, Ouroborus is the bubble boy!
 
2003-07-01 05:41:49 PM  
Whoo hoo! Must be why I just got called for a job interview! Hope I get the job, I'm getting so sick of being out of work.
 
2003-07-01 05:44:08 PM  
skinink:

Next Bubble that will occur: either WiFi, or nanotechnology. Neither, in my opinion, are very viable, but each keeps getting a lot of press. Really, how many people need WiFi hotspots on a regular basis ?

But just think of how many new companies will develop to deliver a "product" to the hotspot people. Need to purchase a new dining room table while you are at Starbucks? Somebody will have you covered. And there are other things too, important things that someone somewhere will put up cash to provide you with.
 
2003-07-01 05:44:40 PM  
After the shutdown, the Sharpleses, who never sold their stock and therefore made no money from it, took a break, spending four months in Southeast Asia.

That's nice. I spent my unemployment trying to figure out how I was going to make my unemployment checks and worthless stock options last me the time it was going to take to find a job. There's nothing like looming homelessness to get you motivating in a job hunt.

/bitter
 
2003-07-01 05:46:32 PM  
I was very close to giving up computers and becoming a mechanic, but if this is true I may be employable again.
 
2003-07-01 05:48:30 PM  
I predict that many of the failed dot-com business models will eventually become viable within the next ten years or so. Unfortunately, by that time, they will all be properties of Amazon.com.
 
2003-07-01 05:52:12 PM  
"Former Vignette Corp. executive Greg Peters, who resigned as chief executive a year ago, recently signed on as chief executive of software startup Zilliant Inc."

I had the ill-luck to have to use their crappy Vignette Storyserver(or whatever it's called now) software at work. Any asshat who lead a company that makes software that bad, is certainly not someone I'd want to hire. But their salespeople on the other hand, I'd hire in an instant. Same with MS CMS...those salepeople are the best, sold the very worst web content management software on the planet to my dumbass company...wow, I'm in awe...
 
2003-07-01 05:52:50 PM  
I've been seriously considering starting an I/T outsourcing business or a visual effects company here in Winnipeg (Canada). I used to provide the technical leadership work for a Fortune-100 company, and could architect the technical infrastructure for the vecture -- but I have no business and management experience.

Anyone interested in partnership? Please check my profile for my email address.
 
2003-07-01 05:54:26 PM  
My main question to the ones who lost a job in the tech-sector is, why didn't you try creating your own company? I don't mean mega losers like Garden.com just smaller one-two people companies providing services to local folks. Working for big businesses is not the only source of income you know. Just a thought.
 
2003-07-01 05:54:49 PM  
->venture<-, not vecture
 
2003-07-01 05:55:32 PM  
theflyingdutchman:

But just think of how many new companies will develop to deliver a "product" to the hotspot people.

True, true, but methinks unless they make it so inexpensive, it may only become a fad, like ham radios, CB and so on. The reason I don't carry a cell phone is that I enjoy being detached from and/or immersed in whatever void hotspot technology is offering to fill. Looks like the birth of the world that was predicted in Minorty report.

I still wonder what people with personal (i.e. not work) cell phones have to talk about that is so damned important that they can't keep thier attention on the road...
 
2003-07-01 05:55:36 PM  
http://jobs.fark.com - hehehe! (don't click - made it up)
 
2003-07-01 05:57:23 PM  
VC and internet startups in the same sentence?! *crosses fingers*
 
2003-07-01 05:59:28 PM  
A sucker is born every minute.
 
2003-07-01 05:59:53 PM  
Don't think the Sharples didn't make any money... They managed to buy a larger than life house, spend 4 months in Asia and work "odd-jobs" for a year or two.

The Mrs. was at Garden for the very end and they were very generous to the leaving employees. The early employees were sent off were very very generous severances.
 
2003-07-01 06:07:48 PM  
Aaaahahahahahahahahahahahahahahahahahahaahahahahahaha....

Phew...

Glad I got that out of the way.

Let's see...is that well dry enough yet, or?
 
2003-07-01 06:08:26 PM  

My main question to the ones who lost a job in the tech-sector is, why didn't you try creating your own company?

Couple of reasons, first starting a company costs money, which most of us lack. And second, I know I don't want the hassle of running a company. I don't want to deal with marketing, managment, taxes and all that crap. I'm freelancing, and getting by, but I'd rather let someone else worry about that crap while I play with my toys.

 
2003-07-01 06:21:09 PM  
I thought it was the business models that did in these ventures as much as the bubble that was bound to burst, not the people. Unrealistic expectations, irrational exuberance and all that.

Who created the business models, exhibited unrealistic expectations and irrational exuberance? Space aliens?
 
2003-07-01 06:23:06 PM  
Does this mean there's still hope for my online dog grooming business?
 
2003-07-01 06:24:11 PM  
Silly capitalists...when will you ever learn?

The only thing that makes REAL MONEY on the net is porn.
 
2003-07-01 06:24:19 PM  
I run my own business with my father and we are a new company and we are generating revenue, mostly concentrating on local businness's in this area
 
2003-07-01 06:24:28 PM  
dude the term 'Venture Capitalists' in itself means, people who succeed in and make profit from businesses to make money. Its clear in the term 'Venture Capitalists', these people are only in it to Make Money. Wether they launder it or merge with it ally with it or 'Growing Deficit' the money from us, theyre 'Successful Venture Capitalists'. A ruthless businessman vice president who it seems is building a bunker under his house which is in the Naval US Time Conservatum, Who I havent seen on telly for ohhh.... almost never, hes since disappeared before 911 never to be seen from by me on television. lets face it the president is a coke baby, hes in it deep and his grandfather was a nazi. colin powel is all sorts of wierd, and his son looks like a garbage pail kid or like a fat baby ventriloquist dummy. i dont like that at all, a republican majority forced the 3-2 vote passing the FCC amendment that made it possible for large companies to start owning newspapers, now Clear Channel owns newspapers, tv stations, BILLBOARDS, they sponser things like CD burnings in the south where I'm supposed to believe that, 'YES! THE HILLBILLIES LIKE AMERICA' and theyre burning peoples cds. why would i ever admire what people do in events sponsered by the Walmart, or even Building 19 Equivalents in Music choice.

way off track.
oh, rumsfeld is creepy. he talked a lot with saddam hussein in the 80s when he worked for Regan (Oh joy! We all love Regan right?). Hes lookin really sinister these days. The fountain of grave commentary.

And like 99% of the email to the FCC was about not wanting that amendment to pass and the FCC was like, we'll f it we're gonna pass it anyways. they had the head of the chair who was colin powells son and he said, 'listen to me, im a little potato man with glasses'. the other republican was a biatch and the other guy was just little wormy guy. he didnt say anything. he was the little biatch boy. the other 2 democrats were like '?!'.

oh, so this Springfield Concert they planned up here in Boston, Clearchannel just put out ads for this show before they even got permission from the city, but by the time i heard that id already heard the ads in the news for a week or two. isnt that something?

and ashcroft is sooo square, dont bring him to a party.

yea these people are just good at making money because we let them. Cumberland Farm buying oil companies?
 
2003-07-01 06:28:52 PM  
victor vector and by god don't call me shirley!!
 
2003-07-01 06:31:58 PM  
victor vector and by god don't call me shirley!!
Someone wanna bump up my thorazine:)
 
2003-07-01 06:34:17 PM  
please someone post this pic I dated a kentucky girl once
http://www.ilovebacon.com/070103/a.shtml
 
2003-07-01 06:34:48 PM  
I think that most VC's make their money by buying into the corp pre-IPO at like $5 per share and then selling post-IPO at $15 per share. Or something like that.

First-time jobless claims have gone down the past 4 weeks.

The layoff figures in June were the lowest since 2000.

Thursday's when the jobless claims figure is released every week. Let's keep our fingers crossed.

Also let's look at the mergers. PSFT and JDEC, and then ORCL and PSFT ... a few others floating around, esp. in the biotech arena.

BTW, biotech is another potential bubble. Also let's not forget green transportation.

I'm still thinking the 2000s will be like the 1970s in terms of general malaise, but maybe things will be better.
 
2003-07-01 06:34:56 PM  
MMMMMmmmmmmmmmmmmmmmmmmmmmm...........kentucky puddy
 
2003-07-01 06:36:07 PM  
Needs "Obvious" tag.

My company is not a dotcom, but it is doing the same thing.

The set up.

New President.

Same upper management, that advised the last President.

All staff meeting.

Prez: "We are moving boldly forward."

Prez: "This management team is the best I have ever worked for!"

Prez: "We have turned the corner."

Peanut Gallery: "We are concerned about wages and Layoffs."

Prez: "Uhhhh, Uh hmmm Uh hmmmm. One of the many VPs. Take this question."

VP in question: "While we have moved to alternative staffing levels and anticipate adjusting work related flows to the continueing fiscal responsibilities and customer needs, we will not downgrade staffing integrety, nor shall we cause adverse effects to the over all visitor experience, instead we shall strive to provide a stellar experience, while minimizing the fiscal impact on the institution and maximizing the staff work environment and while moving forward to retain the best and the brightest, improve salaries and consistantly provide a unique and wonderful customer and worker experience, but leaving no worker behind. In short, no."

Prez: "Im sure that was clear....... You are dismissed."

As we headed out to the fresh air and the brilliant sunlight a sage friend snidely commented:

Snide Friend: "He doesn't realize, his wonderful management team is what got us here to start with."

I had to laugh!

I figure 11% were laid off and another 10 or so percent got their hours cut.

Yup, same ideas. The small fry get hammered. Management didn't even consider cutting their salaries.

Welcome to the 21st century
 
2003-07-01 06:36:30 PM  
im saying everyone should just venture capitalist.
Are you having problems settling your divorce?
Do you need a lawyer? I'm Don Law, Im a Lawyer, just call.
Did you ever get into an accident?
Do you know what your options are?
Personal or Emotional Injury, you need a lawyer. I'm a lawyer, I'm Don Law.
 
2003-07-01 06:44:25 PM  
1) Two words, capital loss.
2) Five words, keep it in the family.
3) One word, stupidity.
 
2003-07-01 06:44:51 PM  
(strike that, reverse it)

Do You have goldfish, or any kind of fish?
You need someone to feed your fish?
Im Don Law, I'll feed your fish.
Just call.
Are you tired of the same old potato salad?
You need someone to make you some new potato salad?
Im Don Law, I can make you some new potato salad.
Just call.
Has this ever happened to you? You go outside and it is raining, and you have forgotten your umbrella?
I'm Don Law, i have two(2) umbrellas, you could borrow one, Just call.
 
2003-07-01 06:50:19 PM  
Seriously... you people got it all wrong. These "idiots" have learned a valuable lesson: what not to do. They are much better equipped to run startups than someone who has not had the experience.
 
2003-07-01 06:51:42 PM  
oh, and if you control the media and stem back the flow of information you can make things seem like they happened ages ago. we dont hear about the important things till its too late. its already old news when we hear it. theyre leadin us down a dark path.

the majority of the programming on tv is advertisements or bad programming. programming. programming. programming. programming. programming.

whats a prog rammer?
 
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