"You're an idiot if you don't start an Internet company right now"

Guest post by: Paul Kedrosky
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Sorry, You Can’t Be My Online Friend - By Paul Kedrosky

The following comes from my friend James Altucher's latest TheStreet.com Internet Review (subscribers-only) newsletter. He quotes a highly successful non-Internet entrepreneur friend recently saying to him as follows:

"You're an idiot if you don't start an Internet company right now."

James is a smart guy, so while this is truly a froth-inducing quote for the bubble-spotters out there, take it in the spirit James almost certainly intends it. He points to both cyclical (Internet stocks) and secular (declining cost of code, ad boom, etc.) factors in the markets right now that favor more successful Internet-centric models and companies emerging.

While it's easy to scoff, keep in mind that James, in addition to being smart, has been around the Internet, venture capital, and entrepreneural block for more than a decade. He realizes, like many techies don't, that some seemingly irrational expansions go on much longer than cynical and weary insiders think. He also realizes that there is a difference between a great business and a great investment. at least in the short run.

[obDisclaimer: I write a weekly Saturday column for TheStreet.com]

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Sorry, You Can’t Be My Online Friend - By Paul Kedrosky

About the Author: Paul Kedrosky

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Dr. Kedrosky is currently the Executive Director of the William J. von Liebig Center in San Diego, California. Using an innovative seed capital program, the Center catalyzes the commercialization of technologies from the internationally-ranked University of California, San Diego. Dr. Kedrosky is also a venture investor with Ventures West, Canada's largest institutional venture capital firm, where he is most active in consumer technologies and software. He is currently on the board of Marqui Corporation, a marketing automation software company.
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