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Originally Posted by TNT
Well if RC is right then i am going to investing in some severs and storage and have a hosting site. and let google buy me out.  but really you could make some money being a hosting site for webpages, video, etc. just rent out your space. damn. i have a money making offer. who wants in?  |
It's sadly not what you know... but who you know...
...Schmidt thinks so highly of Hurley and Chen, 27, that he compared them to Google's now 33-year-old co-founders, Sergey Brin and Larry Page.
Brin sees the similarities too. "It's hard to imagine a better fit with another company," Brin said during Monday's conference call. "This really reminds me of Google just a few short years ago."
The two companies even share a common financial bond: Sequoia Capital, an early Google investor that owns a roughly 30 percent stake in YouTube. Menlo Park-based Sequoia remains a major Google shareholder and retains a seat on the company's board — factors that might have helped the deal come together after just a week of negotiation.
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Selling to Mountain View-based Google will give YouTube more technological muscle and advertising know-how, as well as [b]generate a staggering windfall for a company that was running on credit card debt just 20 months ago. [b/]
To conserve money as it subsisted on $11.5 million in venture capital, YouTube had been based in an austere office above a San Mateo pizzeria until recently moving to more spacious quarters in a neighboring city.
Since the company started in Hurley's garage in February 2005, YouTube has blossomed into a cultural touchstone that shows more than 100 million video clips per day. The video library is eclectic, featuring everything from teenagers goofing off in their rooms to William Shatner singing "Rocket Man" during a 1970s TV show. Most clips are submitted by users.
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The key words in the above quote are highlighted... these are my highlights.
There are many thousands of us with great ideas and the drive to fulfill them - however, only a handful ever get access to the money to pull them off.
With $11m dollars of "venture capital" it is hard to not end up rich.. your company may or may not make a profit (YouTube is still in the red) but you end up with wads of cash in you rpocket no matter what happens.
Again - not what you know, but
who you know
The moral of the story?
Network, network, network......
Never discount the value of a casual aquaintance one day paying off by being able to introduce you to the right person.
You of course also need to be lucky enough to meet the right person at the
right time as well.
The - if all those planets align, right person, right time (for you
and them) you may just have the chance of selling them you ridea...
even if your idea has no possible profit potential in the "normal" sense of the word.
After all - Sequoia Capital, whom are equity stake holders in Google, just made back their $11m investment in YouTube when their Google share value increased the day the sale was
announced - imagine when the sale actually goes through.
I am wondering if the SEC will even let this obviously "conflicted interest" deal go through.
In effect they should not.
Google Buys YouTube for $1.65B
damn google. i never really use them anyways. now i really wont. i am banning google.
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