There was an article on front page of Los Angeles Times a while back that caught my eye. The headline was "Small Dot- Coms Thrive While Industry Giants Melt Down". Here are opening paragraphs ..."Beneath chaotic dot-com busts of last half-year, an overlooked breed of Internet companies - mostly small and nimble - is thriving.
"They have no public stock, no Super Bowl commercials, no million-dollar product launch parties, and no naming contracts with professional sports stadiums. Their small size has allowed many to weather a storm that has quickly taken down hugely stupid, profligate and unlucky internet firms.
"This year's grim portrait of Internet economy has largely been painted by big-money Wall Street nose dives such as those by Priceline.com, Drkoop.com and Etoys.
"By contrast, mundane dot-com survivors are small operations with few employees that have trudged along, slowly but steadily, in a parallel universe that more closely resembles so-called Old Economy."
Well, gee, no kidding. Finally dust begins to settle and resulting landscape resembles, well, something suspiciously like real world. And WE, "mundane dot-com survivors" are ones trudging along in a parallel universe? I think not. We've always been firmly rooted in real world. It's "hugely stupid, profligate and unlucky [and what's "luck" got to do with it?] internet firms" that were always living in a parallel universe of their own imaginations.
So what's lesson for those of us still around after great internet shakeout of 2000? It's this: just run your own race. Forget about what so-called mega dot-coms are doing. They're not operating in real world, they're in some la la land where venture capital is (or, more accurately, was) a bottomless pit and bottom line doesn't seem to matter. Yet. What's future for such businesses? They're destined to bite dust! I don't care how much money they have at their disposal, sooner or later they have to pay piper. There is NO successful business model on earth that doesn't, at some point, require black ink on all-important bottom line.