Do you still remember the year 2000? Young founders (often from BCG or McKinsey) presented their ideas about ecommerce websites on a one-pager and asked for funding? As a matter of fact – some investors gave them money. Why? Because everybody else invested in an ecommerce website. It was not a question about market size, technology, customer needs or the skill sets nor the experience of the team. It was about hope and hype.
Today I am looking around, trying not to think that another .com bubble is coming.
Business Angles and VCs burned a lot of money in 1999 and 2000. Some of them did not learn a thing- or they have already forgotten the pain.
Fast forward to 2007
Young founders are asking again for funding with ridiculous valuations based on one-pagers. But today, the founders are even younger, they directly come from univerities and business schools. btw: I am 7 years older compared to the year 2000.
