We have largely WASTED an entire web decade of time, energy&venture capital on extremely inefficient revenue models. There have been a few interesting examples of startups acquired in the 00’s for large amounts due to amazing growth (eGroups, MySpace, Skype, YouTube) or advertising potential (aQuantive, DoubleClick, AdMob, RightMedia). However, mostly the decade has been an uninterrupted string of uninspiring business models and small-time acquisitions of Web 2.0 startups filled with rainbows&unicorns, rather than those based on simple, transactional revenue models.

I should add one thing he’s leaving out: SERVICES. MAN. What is with the internet that no one wants to provide professional services? It’s like everyone working on the web wants to start a car manufacturer instead of selling or repairing cars.

Well let me ask you this: how many people got rich starting a car company? And how many people got rich starting a dealership, a dealership chain or a repair garage? A lot fuckin’ more. Will it make you a billion dollars? No. Do you need a billion dollars? No.