Caught In The Webb
Bubbles bubbles bubbles! The talk continues. Last week the anti-bubble camp was in the ascendency. First we had a massive bubble debate on Branch.com (disclosure: I am an investor in Branch), featuring some of the best minds on the internet: Anil Dash, Dave McClure, Paul Kedrosky, Chris Sacca, Michael Arrington, MG Seigler and more. The rough consensus? No bubble.
In wrapping up the Branch debate, Seigler pointed to First Round Capital’s Josh Kopelman, and his hilarious bubble post – from 2007, no less – mocking those who continuously cry bubble, and failing to grasp the transformational power of the internet. A fair point.
Next we had Business Insider Henry Blodget’s presentation State of Startups 2012 presentation, subtitled “No, it’s not a bubble.” Many charts, graphs and points followed laying out why the bubble doesn’t exist.
I must confess, however, I’m in the pro-bubble camp, and while reading the Branch debate, I found myself jumping up and down with counter arguments on why we actually are in a bubble. And, since I’ve taken a two week vacation from this column, I figured I’d come back with a vengeance, and cogently lay out all the arguments and counter arguments.
Despite the growing number of tweets (250 million a day) and ballooning valuation ($8 billion), a brewing exodus at Twitter doesn’t seem to be limited to Fred Wilson and Bijan Sabet’s departure from the company’s board or shuffling in the C-suite.
Fortune.com put together a round-up of some key positions that have left, including former head of communications Sean Garrett the company’s first ever PR hire, Chief Scientist Abdur Chowdhury, VP of engineering Mike Abbott, down to Loren Britcher, who created the iOS app Tweetie.
The moves haven’t been lost on recruiters. Betabeat spoke to one last Friday who said Twitter employees’s LinkedIn mailboxes were overloaded in both directions since the CEO switch with Jack Dorsey earlier this year.
Earlier this week Betabeat reported on some findings from the National Association of Venture Capital, which showed that while the number of firms raising capital was shrinking, the amount of dollars put into VC the first half of 2011 was actually up 70 percent over the same period in 2010.
More positive data was Read More
When Betabeat’s crack trio of writers heard Turntable.fm co-founder Seth Goldstein was going to be in town and trolling for developers at the Ace Hotel, we decided to stalk by. Uh, we mean Betabeat always holds its weekly editorial dinner at the halal Pakistani joint on West 29th St. And then we just happened to walk across the street for a drink at the Ace. Mmmhmm, totally. (Pro tip at Gourmet Palace: Order everything.)
Inside the lobby we spotted angel investor Chris Sacca, the “gatekeeper” of private shares in Twitter, right away by his leonine mane of hair. We tried to introduce ourselves, but a gentleman in a baseball cap and windbreaker with his back to us was in the middle of wowing a crowd gathered around him with a card trick. After it was over, the magician moved on, deck in hand, to entertain the couch to our right. “Have you met my friend David?” asked Mr. Sacca, as he walked by. “That’s David Blaine,” Mr. Sacca added, once the illusionist was out of earshot. Yeah, we recognized the face.