It has often been said in the venture world that “there is an infinite demand for the unavailable.” This is the ultimate challenge for everyone who invests in tech companies. We know there is a market for cars that burn no fuel; we know there is a market for anything that will eliminate my love handles and we know there is a market for a guarantee on an Ivy League acceptance letter for our children, but what about everything in the middle?
There could be a return, but is it enough to warrant an investment? There could be a legitimate company there, but is it a “venture returns” kind of company? That’s what makes venture investing so interesting.
Charlie Cooper of CNET captured this sense among a bunch of very smart media people at a Stanford colloquium as a part of the AlwaysOn conference. Andy Plesser of Beet.TV hosted the discussion which was all interesting, all good and all over the map on media, but what we know is that the changes that are happening right now are unprecedented, unpredictable and, probably unfortunate for big media. But big media is fighting back with vigor. The giants like News Corp. are dispatching people and money to try to get ahead of the curve. The problem is we don’t know where the curve is on its trajectory.
The current state of all things media is like the Wild West. So as the slightly altered bumper sticker says:Get In – Hold On – And Enjoy the Ride