Tonight we’re gonna party like it’s 1999. Ahh, the good old days of sock puppets, inflated valuations and excess cash available to start-ups with eyeballs. I’m sure it is just sour grapes on my part, working too hard to help my clients raise a few hundred thousand bucks. But when I read about beer flowing from taps at start-up Yelp (well, ok, maybe it’s 7 years old now) and then I read the IdeaSpot blog opining on why the company can’t and may never make a profit, I’m left to wonder why they didn’t run a Super Bowl ad.
I know, I know. Value isn’t about profit anymore, it’s about generating sticky traffic and I’m sure one day soon, they’ll all be drinking champagne instead of beer. But can’t the smart investors behind this investment find something truly innovative to invest in instead of investing in mere financial opportunities.