Looking back in tech time
Fred wrote about the life cycle of tech companies earlier this week. It was a conversation we were all talking about over the weekend. It was not surprising to see Yahoo become part of another company vs. a stand-alone business. It is part of the cycle.
There is a point where a bunch of companies begin their lives in the same space and although each are slightly different they are competitors of one another. Over the course of growth some get funding to move forward while others just die. The really strong ideas that prove that they are worthy businesses by filling voids or needs in the market grow and survive. At one point a few might join forces through a buy out or others remain stand-alone entities and perhaps go public but in the end there is usually one company through that cycle left standing.
We are seeing it in several verticals right now. Sometimes it happen super quick and other times it takes a long time. The one that is really interesting to track right now is transportation such as Uber, Lyft and others and to prove my point this week Hailo and My Taxi combined forces.
Going back to the 90’s there was Geocities. Geocities was the first social network. The competitors at that time were Tripod and Angelfire. That was a time when there were ISP’s such as Lycos, Alta Vista, Netscape (which began as Mosaic) and AOL. Geocities was purchased by Yahoo for $3b at the peak of the dotcom bubble in the late 90’s.
Flatiron Partners was an investor in Geocities. Flatiron Partners, that no longer exists today, began as a VC partnership between Fred and Jerry Colonna. When Geocities sold it changed our lives in so many ways.
Not sure what companies will survive the next 20 years and what companies will change the lives of many people but what is to be noted is that Geocities for all its glory no longer exists today (except as a web hosting service in Japan).