High tech and the fallacy of historical success
Just because you were able to see your company for astronomical prices during what was clearly a boom in the late 90’s, early ’00s, does not mean you’ll be able to repeat success in these times.
This is one of the fundamental problems of Silicon Valley today – and it’s no suprise that little progress has been made by the VC firms today are headed by such characters.
Case in point is the hire of Bill Gossman as the new CEO of hi5. His past success in selling a company to Software.com for $400 million is definitely an amazing feat but it means nothing in the social networking space. It’s probably much more likely that he be appointed due to Mohr Davidow Ventures being a lead investor in hi5.
This is only example. Once pundits continue to play king of the hill with other fresh faces – based on acquisition stories of the past that bare no relevance to the world we live in today.
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- Published:
- 04.25.09 / 12am
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