Overhype

by Mike Masnick




P2P Stars Trade Up To New Gigs

from the this-is-news? dept

News.com seems fascinated that two people who helped create P2P networks have gone on to create companies that are actually designed to make money. What I'm wondering is why is this a story? Did anyone think that either of these guys didn't plan to make money at some point in their lives? However, more importantly, neither of these ideas seems that impressive. One is simply a corporate structure so the guy can play around with various technologies he wants to explore. Not that there's anything wrong with that, but it's not exactly a business model that inspires confidence. The other reads like the description of a bubble company. It's a company founded by a 22 year old kid who's main credit is that he co-founded a company that never made a dime and is now out of business. It's received millions of dollars from big name VCs for producing what appears to be a me-too feature with lots of competition that is likely to have only marginal demand - and no clear business model.

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