It seems that the new bubble is now outpacing the old one. Most of us learned about the perils of VC money the first time around and are using alternative bootstrapping techniques to launch new ventures. After all, the VC’s kept all the equity and saddled the founders with clueless board members that promptly steered the companies into unprofitable models.
So we’ve wised up. No VC money. With sensible advertising models it is possible to build something on the web and gradually scale it up. Now it seems the VC’s aren’t happy about being left outside. Do they clean up their act? Nope. They do the only thing they know how to do. They throw money at people who don’t even want it.
Guys – over here! I’ve got a great new AJAX enabled dog food I’m marketing!