Making billions off the excitement of the Internet is so 1990s, says Mark Cuban, who leveraged a software startup into $2 million in seed money to start broadcast.com, which he sold off to Yahoo for $5.7 billion five years later:
Its unfortunate, but true. The internet is not a driving force in our economy. Its a stable mature platform on the same level as electricity, phone service and TV. You can’t live without it, but don’t it expect to be a catalyst for the economy. We now argue about whether new companies have a business model and can be profitable and get excited about updates rather than new competitors. Thats the sign of a stable market.
Its time to look elsewhere for that “thing” that takes us out of our economic doldrums. These blog posts created a big stir when I originally posted them. They aren’t controversial anymore.
If you are young, super-smart and looking to have an impact. The internet is what your mom and dad got excited about. Find something us for all of us to rally around and change our lives. Please.
He’s right. There’s plenty of money to be made online still but it’s simply by using the Internet as a distribution network for information, goods and services. So, if you want to get rich enough to buy a professional sports franchise, you’ll have to come up with something new.
