GenuineVC David Beisel's Perspective on Digital Change

March 28, 2005

Five years ago this month, the Nasdaq hit an all-time high. Then, the bubble burst. Out went the capital markets. Out went the media spending. Out went the unsustainable businesses.

But, also out went the baby with the bathwater. For a number of years, the word “internet” was a dirty word. It was the punchline of jokes. I was embarrassed to tell people that I founded an internet company.

I am happy to officially state that the Internet is now raised from the dead. No, this shouldn’t be news to anybody who is in the industry. And, in fact, anyone who has ever purchased media from Google’s Adwords in the past few years knows that the Internet really never perished.

Sure, it’s broad category. “The Internet.” It’s content, it’s e-commerce, it’s advertising networks, etc. – it’s so many things. But generally-speaking, it’s back.

Google’s IPO last year didn’t open the floodgates for other initial public offerings. But it did help facilitate the mergers and acquisitions market, albiet a few months later. Yes, online mergers are hot again. The New York Times $410M purchase of from Primedia, one of my former employers. Then, last week’s IAC/InterActiveCorp’s agreement to pay $1.85 billion for Ask Jeeves. Flickr. Snapfish.

But it’s not just a “Google effect,” as some would argue. It runs much deeper than that. Yes, Adsense and Adwords have provided a technology platform for monetizing “free” content and search on the web. However, other models are flourishing – subscription-based content on dating sites, a la carte pricing for mp3’s on iTunes, and downloadable try-before-you-buy executable games on gaming and general portals – just to name a few. And new technologies and applications are just emerging, like RSS, social tagging, and vertical search.

Yes, the Internet is back. And I am happy to be here.

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About Me

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  • I am a cofounder and Partner at NextView Ventures, a dedicated seed-stage venture capital firm making investments in internet-enabled startups. Read More »



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  • Rob Go
     - 5 hours ago
    @jay_zo @nickducoff while I typically agree, I think this situations different
  • Rob Go
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    @jay_zo if a person is amazing at 30% of a job, he's probably better off doing that 30% for 2 companies than the 70% he's not so good at
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    @nickducoff why not? I generally believe in the focused player. But exceptions do exist
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    I quite liked that crisp set of clear and strong statements from @jack