VCs Say The Biggest Opportunities In Mobile Are Not Sexy Apps [mocoNews.net]
You wouldn’t guess it by looking at where VC’s plunk their money, but consumer cash doesn’t necessarily flow towards sex appeal… when it comes to web apps. Peruse any conversation with web2.0 fan boys and you notice it focuses around design, elegance, and “the user base.” I’m more interested in usefulness and “the customer base.”
You know, the stuff that gets you revenue today and tomorrow.
In a conversation with Ramit, we discussed the differing philosophies between New York and San Francisco-based startups. In my experience, New York is much more bottom-line focused (and its sphere of influence is growing), whereas San Fran is all about wild ideas — profit be damned.
I’m all about the Big Idea, but I temper that with a loyal appreciation for sound business models. San Francisco gets most of the limelight because of the big exits, but I think the coming years will start seeing a lot more New York success stories.