YedaAnna
April 10th, 2008, 10:54 AM
Just spent the morning reading this looong article. You feel bad for the guy but this should be a learning lesson for all of us budding entrepreneurs.
Read on....
It's not easy being the brains behind one of the biggest disappointments in Internet history. Sure, there are those who describe you as a visionary, but in the same breath they'll deride you as a lousy businessman. Bloggers attack you, call you "a real asshole" and "a very lucky idiot savant." Former investors badmouth you. Other entrepreneurs copy your ideas without giving you credit. The New York Times makes reference to your "ballooning ego" and the local Fox affiliate can't even get your name right.
Jonathan Abrams--founder of Friendster, the first online social network, and a pioneer of one of today's hottest trends on the Web--tries his best not to think about these things. And with two new companies, he has plenty to distract him. Last September he opened Slide, a stylish basement lounge in downtown San Francisco. And in March, he launched a new bid to make it big on the Web--Socializr, a website that lets users invite people to parties and other events.
And yet the story of how Friendster, once the hottest start-up in America, became the butt of a business joke continues to preoccupy him. And no wonder. By the rules of Silicon Valley, Friendster--a bold idea backed by experienced investors and the best managers money could buy--was destined for greatness. Instead, it failed spectacularly. "I did what you're always told to do as a young entrepreneur," Abrams says. "I brought on experienced investors to help Friendster fulfill its potential. But the all-star team was the curse of death."
Rest of the article here (http://www.inc.com/magazine/20070601/features-how-to-kill-a-great-idea.html)
http://images.inc.com/magazine/20070601/friendster_questions.jpg
Read on....
It's not easy being the brains behind one of the biggest disappointments in Internet history. Sure, there are those who describe you as a visionary, but in the same breath they'll deride you as a lousy businessman. Bloggers attack you, call you "a real asshole" and "a very lucky idiot savant." Former investors badmouth you. Other entrepreneurs copy your ideas without giving you credit. The New York Times makes reference to your "ballooning ego" and the local Fox affiliate can't even get your name right.
Jonathan Abrams--founder of Friendster, the first online social network, and a pioneer of one of today's hottest trends on the Web--tries his best not to think about these things. And with two new companies, he has plenty to distract him. Last September he opened Slide, a stylish basement lounge in downtown San Francisco. And in March, he launched a new bid to make it big on the Web--Socializr, a website that lets users invite people to parties and other events.
And yet the story of how Friendster, once the hottest start-up in America, became the butt of a business joke continues to preoccupy him. And no wonder. By the rules of Silicon Valley, Friendster--a bold idea backed by experienced investors and the best managers money could buy--was destined for greatness. Instead, it failed spectacularly. "I did what you're always told to do as a young entrepreneur," Abrams says. "I brought on experienced investors to help Friendster fulfill its potential. But the all-star team was the curse of death."
Rest of the article here (http://www.inc.com/magazine/20070601/features-how-to-kill-a-great-idea.html)
http://images.inc.com/magazine/20070601/friendster_questions.jpg