Humbled to share that I’ve been chosen #17 on the inaugural Business Insider Seed 100 – The best early-stage investors – list of Global seed investors made by Business Insider and Tribe Capital. Very thankful for the opportunity to support amazing startup founders. Read more about my investments and strategy at Recursive Ventures.
I’ve recently joined Berkeley Skydeck as an ambassador. It’s a wonderful program and a great fit for startups who are interested in building their business in the U.S. and more specifically in Silicon Valley.
On top of investing $100k, SkyDeck offers a lovely shared office space in Berkeley, and has resources lined up for founders working on deeper technical challenges in Life Sciences, Robotics, and AI. By tapping into the broader UC Berkeley research community the program offers access to faculty as well as cutting edge research labs.
Sometimes it’sÂ unbelievableÂ how fast and disruptive things can be in the harsh world of online -Â http://techcrunch.com/2010/11/18/hell-freezes-over-as-myspace-fully-surrenders-to-facebook/
Today, Myspace announced that there are basically surrendering what used to be their core business – Social Networking and Social Graph. It’s true that have alreadyÂ announcedÂ that they will focus on Media, Music, etc. moving forward, but still, implementing Facebook Connect is just saying: “Okay, we give up on Social”.
I remember that not a long time ago, Myspace was bigger than Facebook. Two years ago, we used to talk advertisers about Social Media campaigns and Myspace was still all the rage. Advertisers knew they wanted to be on Facebook as well, but Myspace was the focus for many of them. Just a year later, in 2009, everybody was just raving about Facebook and didn’t even want to hear about Myspace anymore.
What went wrong? it’s hard to tell, but my personal take is that it’s all about the user experience. Facebook just did an awesome job with that (and are still doing a great job) while Myspace failed to further develop their product to have a great user experience. They didn’t experiment enough to learn and develop their product to be better.
Facebook today is very different from Facebook two years ago, Myspace is pretty much the same. Facebook adapted and learned how to make a better product. Myspace didn’t, and that is why, I think, they reached the spot they are in Â today.
This story should be a classic Harvard case study, which I hope will be written in the future. the lesson is not a new one – if you can’t adopt your business to fit your customer needs, you won’t survive. Customers needed a site they loved and worked for them. Facebook did exactly that.