Internet: we are still at the beginning!
Many people worry that they missed the opportunity to participate in the Internet revolution. I have often heard that most of the opportunities are already taken and that the incumbents are set to win.
I could not disagree more. This reminds me of 1998 when people were dismissing Google because people were already using Alta Vista and Yahoo. We cannot fathom how much the Internet will be transformed by ever increasing processor power, storage and bandwidth. We are still at the very beginning of the Internet revolution and things are still evolving extremely rapidly.
If you take a look at the top 50 sites by attention in August 2001 versus August 2007, only 5 have increased their market share, with Google increasing the most. Many have completely fallen off the map and the most successful sites of the past few years did not even exist then: MySpace, Facebook, Youtube…
Moreover, the environment is continuing to shift. Two years ago, MySpace seemed to have the social networking category locked up. Facebook is now threatening that hold and now seems impregnable – but who knows, things evolve extremely rapidly on the Internet. In addition, the online advertising market is finally significant enough that advertising based business models are increasingly challenging paid models. The future is going to be interesting!
This is a great time to be a risk taking entrepreneur. Let’s take full advantage of it!
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Yah DogPile dot com just keeps sliding! Should have picked a better name! —- I think I know what website you are thinking about when you say: the online advertising market is finally significant enough that advertising based business models are increasingly challenging paid models.—- It will be interesting to see if the ISP / server farms naturally seek an market dynamic equilibrium price that grabs a significant portion of the aforesaid implied Google Syndication Ad revenues. I mention this having recently been hit with the wave of virtualized shared server phenomena about the same time I added Google Syndicated ads. The ISP is going to get all the money for now…Its small potatoes but it leads me to wonder how OLX Google Syndicated ad revenue breaks out in this regard!!!
Oops….I forgot to mention a interesting website and wondered if you had seen it yet. I guess you probably have but its worth noting for your other readers: plentyoffish dot com….really interesting to read about. The guy has a check for 1 million dollars from Google that he has a photo of in his blog. However others commented that the server farms ate his lunch and will only soon break even.
[…] only 5 of the top 50 sites of August 2001 had increased their market share by August 2007 (see: Internet: we are still at the beginning!). Many completely fell of the map. Not too long ago MySpace was the “new new thing” and now it […]