"I ain’t building no bookcases." - Chalky White with his daddy’s tools.
As much as we all love turntable.fm, we have decided to shut it down to fully concentrate on the Live experience.
Turntable.fm on killing the flagship product to focus on their Live product. Despite how awesome Live is, I for one am sad to see this happen. Their last day is December 2nd. Too soon?
The fact is, Apple, Google, Amazon or Microsoft should reintroduce this idea at scale, with the wallet to weather licensing and marketing for the long haul. There is a lot of untapped win here that only liquidity can unlock.
How we combine synchronous and asynchronous events in music, video, gaming and interactive entertainment will define the next generation of integrated marketing, where the product and marketing are indistinguishable from each other.
RIP tt.fm. ;-(
I can’t front, this is funny.
"I got so much trouble on my mind. Refuse to lose." - Chuck D for Chalky White.
That Snapchat offer
There seems to be a lot of folks paying attention to Snapchat rejecting Facebook’s $3B offer.
Loosely speaking I’ve seen negative sentiments like
"This means Facebook is in trouble"
"I knew it, we are in a bubble"
"The Snapchat founders are nuts"
I don’t think it’s any of those things.
Consider Facebook’s stock is pretty high right now. They are flush with cash, profitable and can easily afford $3B for a leader in this new emerging market. And kudos to Zuck and co for taking bold moves. Their purchase of Instagram was extremely smart. This was a sensible offer, not one from desperation.
It is reasonable to assume that the Snapchat founders have already taken out millions of dollars in secondary sales of their stock. They are not risking losing it all, instead they are going for it.
I like this tweet by Aaron Levie. In less than 140 characters he summed it all up nicely.
No one rational would have turned down $3 billion for SnapChat. But, no one rational would have built SnapChat in the first place.— Aaron Levie (@levie)
Snapchat’s future is up to them. They have to do a lot of things right. But they have an opportunity to build a big, important company.
There’s always been contrarian value. The questions being, how much capacity is there for contrarian value and when does the contrarian view become the prevailing one. In our world of Facebook and Twitter, the prevailing values are persistent identity and permanent discoverable content respectively. SnapChat defies at least the latter of these.
Indulge me for a a brief moment. The world needs SnapChat right now, though maybe less as a product, but more as an ideal. Their founders are on a journey, a Hero’s Journey, where we are witnessing the narrative unfold. How many founders have succumbed to monetary temptation, cutting their roundtrip journey short, fading into the deep recesses of some whale’s balance sheet?
In a world of disposable heroes, is Zuckerberg still a champion to a 13 or 14 y/o dreamer?
The monomyth of startups requires that a few go all the way, plunge the depths, stare death in the face, survive with new insight and be reborn in a world that has new possibilities and live to tell the tale. In this framework, you aren’t a hero if you haven’t completed the journey, but everyone isn’t meant to be a hero. Everyone can’t be irrational until their actions becomes the new normal by virtue of success. In many ways, it is better that SnapChat fail huge and keep the dream alive for the next brave souls answering the call to adventure. I believe we’re far from seeing how treacherous their journey will become**.
Get your popcorn ready.
** Nick Bilton book in 3, 2 …
Don Ross - “Cup of Pop” - Upright & Locked Position. Acous-sick guitar. BTW, we drink pop in Buffalo, not soda (same as in Canada, where Don Ross is from).