Panning for gold...... the endless cycle of doomed start-ups

Most weeks I try to meet a start-up with an interesting angle on technology. Partly this is because I like helping out and partly because occasionally I will find something that is worth investing in and building.

However, I was thinking today about how many companies I have seen in the last few weeks where people are just working like mad. Committed, clever people who are out-punching their weight but...........(yeah that word) they are in overly competitive and crowded areas.

Company A (let's protect the guilty) has developed a software application and have done a good job. The only problem is Google gives 750,000 results when you put the search term into it. The world and his dog are doing it. This is the time that working with Stefan is really great. He is the more cynical/skeptical of the two of us and sometimes grabs my ankles when I am diving into a company because I just so want it to work. It is later on that I recognise the problems and pull back but finding someone that stops you deluding yourself is great.

The problem for some startups and corporate ventures is that there are no realists - only dreamers and the delusional fools.

The downside of what I do is I get to meet great people whose ships are never going to float (in any sense) and they don't realise it.

It's like panning for gold - you have to sieve through a lot of crud and then hope you recognise something good when you find it!

© Copyright 2005 Richard A D Jones 2005