I have a post up today at CNBC NetNet which lays out some very basic lessons for the new crop of internet entrepreneurs.
There will be loads of cashing in and cashing out before this wave dissipates. Many of the wannabe web millionaires and billionaires were in high school during the first tech boom/bust cycle and so do not have the benefit of experience to guide them as they form their businesses.
I’ve brought in someone who was there to drop some knowledge…
Hey Gang, my name is KooKoo and I have some knowledge to impart to the Startup Billionaire Class of 2011…
In case you don’t remember me, in the late 90’s I was the mascot for Clocks.com, one of the highest-flying companies of the first internet boom. Things didn’t exactly work out so well—but we did get to burn through 400 million bucks trying. Anyway, my purpose in writing this is to save the Facebooks and the Twitters and the LinkedIns and the Groupons from ending up like we did. So if you’re a social media entrepreneur or a startup investor poised to cash in on the Web 2.0 explosion, please remember the following as you go after your dream:
KooKoo has six must-read rules for budding Silicon Valley heroes, click over!