Woah, Edgeio shut down. How the hell do you burn through $5m in a year with nothing to show for it? I'll try if someone wants to give us $5m
2 years ago.
6 comments so far
Here's an idea: Publicly declare your intention to burn through $5m in a year with nothing to show for it i.e. Brewsters millions style. Blog about your progress & adventures, Sell advertising space on the blog, auction off a few event invites to followers etc...
I just read the TechCrunch post, and it sounded like the guy doesn't even care....maybe I don't understand the "logic" of burning through all the money, but it seems like its a...meh....next mentality.
It really seems to be doesn't it? Rather than burning through maybe $2.5m and then thinking - oooh we should change direction.
Best thing I read recently was Fred Wilson saying that in most of his successful exits, the companies had changed direction several times before finding what worked. I think Edgeio changed once. Not enough obviously.
As a wannabe entrepreneur I feel no sense of Schadenfreude about this news but I never could see the value add of Edgeio which alway struck me as a contradiction in terms - aggregation from the edges to the center, instead of back to the edges. I had a good debate about the semantics of this with Keith Teare and Pete Cashmore - http://eirepreneur.blogs.com/eirepreneur/2006/03/edgeioisnot_a.html - but pedantry aside, I honestly think they really didn't get it. Of course that might not be why the business failed....
6 comments so far
Here's an idea: Publicly declare your intention to burn through $5m in a year with nothing to show for it i.e. Brewsters millions style. Blog about your progress & adventures, Sell advertising space on the blog, auction off a few event invites to followers etc...
Would you break even at the end of it all?
Either way it'd be one hell of a year! :)
2 years ago by Yarrg
That's a brilliant idea!
We could call it PayPerPost ;-)
2 years ago by conoro
I just read the TechCrunch post, and it sounded like the guy doesn't even care....maybe I don't understand the "logic" of burning through all the money, but it seems like its a...meh....next mentality.
Is that the way things go?
2 years ago by runningwithbulls
It really seems to be doesn't it? Rather than burning through maybe $2.5m and then thinking - oooh we should change direction.
Best thing I read recently was Fred Wilson saying that in most of his successful exits, the companies had changed direction several times before finding what worked. I think Edgeio changed once. Not enough obviously.
2 years ago by conoro
As a wannabe entrepreneur I feel no sense of Schadenfreude about this news but I never could see the value add of Edgeio which alway struck me as a contradiction in terms - aggregation from the edges to the center, instead of back to the edges. I had a good debate about the semantics of this with Keith Teare and Pete Cashmore - http://eirepreneur.blogs.com/eirepreneur/2006/03/edgeioisnot_a.html - but pedantry aside, I honestly think they really didn't get it. Of course that might not be why the business failed....
2 years ago by EirePreneur
Takes Arrington's "That's not how to do it - they're rubbish" posts down a notch anyway. which is nice :-)
2 years ago by rgb