This post is about Jason Calacanis's appearance on TWIT 105: The Day the Music Died.
Listen about 31.5 minutes into TWIT where he talks about paying $75,000 for a domain name. And then says that he wouldn't sell it unless he was getting $7.5 million.
First off, it comes out as conceited. He prefaces it by saying "you can have her on your show every week" about a new employee of his. I would have no interest in working with someone who thought like that, but even less so someone who talks like that.
Second, is this 1999? Did you not notice little sites like Digg, Flickr, del.icio.us? What would possess you to invest in a company where the leadership is eager to spend that kind of money? It reminds me very much of the parties and penthouse office spaces that were a great way to fritter away money in the last tech boom.
You're only interested in 100X return on investment? It's going to be hard to build a fundamentally sound company when you're only interested in that kind of return. Unless you're only putting in $1,000, and clearly that's not you.
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2 comments:
Thanks for the post...
1. I was joking about the 20.com domain name and needing to make 100x. Obviously I would take 3-5x. You offering!??!? :-)
2. Regarding "letting" Veronica be on TWIT, etc. there is some background there that you might have missed. When someone comes to work on a podcast for one network they generally don't go and do other shows... me saying "she can do it any time" or whatever is meant that we trust her judgment on what shows to do. It's not like I'm loaning her out and that was not how it was intended if you heard it that way.
best, j
Thank you for your level-headed response to my post. Not anticipating that you would come read this blog and give me the chance for a direct apology, I indirectly apologized for the tone in my next post. But thank you for being so gracious and please accept this apology for being so harsh.
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