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2004 gave us widespread blogging and Meetups, and 2008 showed how the web could be a community organizing and fundraising tool. It has the diversity and cheaper rent necessary for great creative potential and I think you're going to see a lot of development next year of Brooklyn as its own unique, but complimentary community of innovation.
But I am also someone who is very colored by my past experience of seeing the venture implosion after the first bubble and walking through the fundraising tumbleweed of late 2008.
Sam Altman of YC recently pointed out that pulling back during the downturn in 2008 would result in several big misses: In October of 2008, Sequoia Capital—arguably the best-ever in the business—gave the famous “RIP Good Times” presentation (I was there). A few months later, we funded Airbnb.
The last closed market we had was from about September 2008 until June 2009--10 months. These closed periods have more to do with trends in other markets or macro fears than they have anything to do with prospects for innovation. In 2008, people weren't sure if we were heading into a complete financial collapse.
General Assembly has taken the physical space concept to another level--one that might have sounded crazy two years ago and now is a huge cog in the NYC innovation machine. When I was approached about connection up vertical communities around innovation in fashion and art , I pushed them to get started.
Since 2008, Dreamit has worked with over 320 companies. View the Dreamit Ventures portfolio Dreamit is uniquely meeting a huge market need at the intersection of companies with customer ready innovative solutions and enterprises in need of these solutions. “We
Investments in innovation can often have unforeseen positive ripple effects. Back at the end of 2008, when the economy was in the tank, and funding was tough to come by, NYC Seed, a small local fund with some government and local academic backing supported my startup, Path 101.
And so it happened that between 2000-2008 I was the biggest buzz kill at dinner parties. Argument two says, “big companies can’t innovate anymore so Google, Apple, Microsoft, etc. Remember it was only 2008 where Microsoft and even Google were laying off employees. Many may simply hit the wall. Same with VCs.
It was all there--and you could say that we really didn't get much feature or purpose innovation after that for a long time. The seminal application of the collaborative web--Github--was launched in April 2008. He said that Flickr taught us all about social applications--and gave birth to Web 2.0
In 2008, I tried to fundraise for my startup the week that Lehman Brothers went under. Over the long term, innovation prevailed and 2008 turned out to be a great year to have a 1-3 year old company if you could make it through the next year. You can imagine how well that worked out.
Working in wine during the financial crisis of 2008, I quickly noticed the opportunity to innovate within the alcohol logistics industry alongside my business colleague, Tim Elenteny. I interview female entrepreneurs and industry innovators on my podcast, discussing their careers, industry trends and businesses.
The Financial Crisis of 2008 sure seemed bad in the moment as well. As I write this, Congress is working hard to undo the mistakes of the 2008 bailout and the sense that corporations got off easy and the little guy was never made whole. Scrutiny is coming in a big way.
I wish all of them well and feel confident that anybody employed at one of the most innovative companies of the past 10 years will land on his or her feet. We have an entire generation of startup founders who don’t have muscle memory from getting their burn rates back into shape from 2008/09 or 2001-2005. Others will follow.
We have previously raised funds in 1996 ($200 million), 2000 ($400 million) and 2008/9 ($200 million). Wouldn’t we be a bit hypocritical if we talked with entrepreneurs about innovation and change but we weren’t willing to take it on ourselves? Let’s start with the fund. This month we closed our 4th fund of $200 million.
But knowing the right people and knowing a market only works well for angel investors in bullish tech markets in which IPO’s happen quickly (97-99) or where larger companies are actively scooping up little tiny companies at sub $50 million valuations to drive innovation (05-08, 10-?).
I spoke about how Amazon Web Services deserves far more credit for the last 5 years of innovation than it gets credit for and how I believe they spawned the micro-VC category. I said, “It’s much easier now than it was in 2008/09.&# That happened a lot in 2002 and again in 2008. I believe that. That’s a fact.
So as of 2008 total LP commitments were still at nearly $250 billion. Our current fund was raised in 2008/09.] They are also the most innovative new fund to enter the market in the past 10 years in my opinion. He acknowledged the importance of the growing seed fund movement in creating a new wave of cost-effective innovation.
That is good news for the innovation economy because healthy capital markets are a necessary support system. However, optimistic capital markets are necessary but not sufficient for a healthy innovation economy. We also need innovation. Innovation never waits for rules and regulations. But it eventually gets it.
In the first post in this three part series I described why I believe the VC market froze between September 2008 – April 2009. I believe that innovation will be part of what drives us out of the recession / long-recovery eventually. It is also a result of pent-up demand. My personal views? I disagree.
In my previous post, The VC Ice Age is Thawing (for now) I wrote about the reasons why the VC market came to a screeching halt in September 2008 and remained largely shut until at least April 2009. Mobile will likely spawn a whole new wave of innovation because it’s pervasive, location aware and always with you.
In 2008 I started VC blogging. Sometimes they take off and they reward the early innovators. They thought it was like MySpace and why did I need a MySpace page? In 2007 I started using Twitter and most of my friends & colleagues wondered why people would care what I ate for lunch. I had blogged when I was an entrepreneur.
One that is resilient about their vision, takes risks to advance their innovations, possesses the hustle and ability to execute their vision, pursues growth, and accepts setbacks as learning opportunities during their entrepreneurial journey, Also, offered are actionable startup strategies to navigate the challenging landscape of business creation.
years ago you’d remember RIP Good Times from Sequoia, which still strikes me as having been prudent advice in late 2008. I think that’s the beauty of both capitalism and innovation. If you were reading the headlines from only 2.5 So which is it? Feast or famine? Bull or bear?
I saw this in 2001-2003 and in 2008-2010. She said that Korea really wants to build a “creative economy” and that understanding why the US is so innovative was important to her.
During the 2008 recession, while everyone else was hanging onto the gunwales of tossing ships, offering bargains, and hoping for a quick end to the pain, a restaurant near our office started remodeling. If your brand is built around innovation, offer something new. If you’re known for being green, be the greenest.
Back in late 2008, I noticed that one of my Flickr contacts seemed to be short a few photos--like, a few thousand of them. He's been in Louisville, Kentucky over the last few years and he's been talking about moving to a more robust innovation community for as long as I know him. The origin of this company is pretty interesting.
I'm a huge fan of this innovation. But now you can learn the origins first hand on this YouTube video as well as how to approach them, how they make decisions and what innovations they've introduced. In 2008 they raised a much larger fund $132.5 I have sat on a board with Howard and have known him a few years.
We also talked about the emergence of New York City as the “hot” new area of entrepreneurship, VC and innovation driven by the quantification of the online advertising industry. Founded in August 2008 in Palo Alto, CA, by Sam Christiansen and Keith Lee. Note that these are “gross” revenue numbers.
I have been close to the tech & startup sectors for more than 20 years and I can’t think of a period in which I felt more optimistic about the innovation and value creation I see in front of us. LP contributions to VC firms shrunk from 2000 and by 2005-2008 had stabilized to around $30 billion per year.
As a technologist he felt the US was “ground zero&# for technology innovation. So I was intrigued when I read Thomas Friedmans’s Op Ed in December 2008 about the need to Reboot America. Once you start censoring the Web, you restrict the ability to imagine and innovate. But it wasn’t meant to be.
Others recall the 2008 financial crisis. “You’ve probably never felt anything like this,” Rustand says. But we’ve all dealt with things that felt new and terrible at the time. Some of us remember the 2000 dot-com crash. In terms of pandemics, we remember avian flu (1997), SARS (2003) and MERS (2012).
In 2008, while living in New Jersey and practicing law in New York City, I learned that my one-year-old son needed open-heart surgery. He is the Founder and CEO of TAPinto , a network of more than 95 franchised online local news and digital marketing platforms in New Jersey, New York, Pennsylvania, and Florida. link] This was very insightful.
Provides publishers innovative site-search tools that enhance user engagement ( icanhazcheeseburger.com and Fred Wilson’s blog avc.com use Lijit as does Feld.com [but he's an investor]). Spun off from Freewebs in 2008, based in Palo Alto. I’ve already started the business modeling. Venture Financings we Discussed.
We talked about the negative effect of Apple’s closed system attitude but how that will be a gift to the market because Apple’s cracking of the operator hegemony has forced the industry to innovate. Founded in November 2008 by Jack Moffitt and Patrick Mahoney; CEO is Gerry Campbell (ex-AOL, ex-Reuters/OpenCalais).
These days that’s not the case and it’s a great outcome for entrepreneurs and for innovation. At GRP we sat out 2007 and much of 2008 for that reason and we’re now looking pretty smart for doing so. So what took me $2 million at my first company now takes $20,000. That’s awesome.
And you can see what AVC looked like in September 2008. The key innovation is a sustainable funding model for archives which Dani explained in her post: Arweave had to invent a new method of paying for storage, one where you can pay once, and store forever. And you can see what AVC looked like in September 2008.
But knowing the right people and knowing a market only works well for angel investors in bullish tech markets in which IPO’s happen quickly (97-99) or where larger companies are actively scooping up little tiny companies at sub $50 million valuations to drive innovation (05-08, 10-?).
Just look at our rebound from the financial crisis of 2008 as something that I feel proud of as an American. I get that it’s easier to make big bold moves with investments, staff, product innovation, capital raising and hiring/firing without being second guessed. Worst system. Except for everything else. But I ask you.
During the 2008 economic downturn, Almond’s family lost their home. She also agrees with Almond that the B2B payments space is lagging in terms of innovation and has “strong conviction” in what Almond is doing to help mid-market companies proactively manage their cash needs.
Hidden staircases and historic artifacts contrast the colorful furnishing and modern office equipment, providing an inspiring backdrop for social innovation, technology and the realization of ideas. Impact Hub Bergen was an early starter amongst social innovation spaces and joined the global Impact Hub network in 2008.
During the Great Recession of 2008-10, Kent guided dozens of CEOs and their companies successfully through the crisis and positioned them to capitalize on the economic expansion that followed. We asked Kent how embracing conscious capitalism during the COVID-19 crisis can benefit companies both in the short- and long-term.
We commend the VC’s and angels that have rallied around their entrepreneurs to repurpose lessons learned from the 2008/2009 recession. history, behind only the 2008 failure of Washington Mutual with roughly $300 billion in total assets. Look for future analysis of these points as more information becomes available. From the U.S.
The breakneck speed of innovation and high-stakes, high-pressure environment of the tech world mirrored what I was already used to out on the ice. Risk-taking is necessary for creation and innovation. Risk is what enables you to innovate yourself—to get better and grow. And I loved what I did. To me, it was a no-brainer.
From 2007 to 2011, during which the Great Recession of 2008-09 took place, the construction industry lost approximately 2 million workers. Overall, we are very optimistic about construction robotics and hope to see more companies attempt to solve the issues in productivity with breakthrough technologies, as well as innovative business models.
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