The goal of entrepreneurship is not simply to find the next big thing to lure venture capital or make a mad dash to a public offering. It is to create a venture that creates income and wealth for the entrepreneur and allows the entrepreneur to pursue other goals in life through this economic activity, be it creating more jobs in a better place to work, offering a better product to the customer, or making the world a little better place. The goal of entrepreneurship should be to build a good business -- with legs -- that will help build this entrepreneurial economy.He also offers what he calls "one of the funniest, albeit somewhat depressing due its truth, videos I have seen in a long time: Here Comes Another Bubble v1.1 - The Richter Scale via YouTube.
Jeff, this sures feels like another bubble. I spoke with a Web entrepreneur yesterday who is getting some good traction with his free add-on for blogs. When he mentioned that his investors were likening his product to the next Google and that it could be worth billions, I quickly ended the conversation. $50 million -- even that seems outlandish, but at least I can understand the logic of a sales price that is consistent with other sales of like Web products. But billions? What are these people thinking?Anita Birdied by: Anita Campbell | January 15, 2008 08:48 AM
Both Professor Jeff Cornwall and Anita Campbell have been important resources in the development of my thinking during the first quarter year of my weblog, but I still feel that this only lightly touches upon some of the issues that are raised by Richter Scales video. Those issues include Fair Use and the generational divide that it invokes and Creative Destruction as envisioned by Schumpeter which is seemingly hailed by many lately. These issues that have been dealt with under the fair use posts and creative destruction posts of this weblog. I may be playing Cassandra here but it doesn't seem like a bubble to me. It's too easy a plug, but it seems like a paradigm shift to me. What is changing for me is the view that Web 2.0 is not the paradigm shift. It is simply something else riding the wave.