When I look around the world, the businesses that dominate don’t seem to be the ones that formed around process as a rallying cry. Rather, they adapted processes to bolster world-changing, market-creating ideas. The world doesn’t need a lean startup, or a developed customer, or a REWORK’d business; it needs solutions to problems, magic where previously there was darkness. How that magic happens is interesting and maybe even useful as a basis for other people running businesses to compare to, but it’s not a recipe for success.
Alex Payne — On Business Madness
Tech Wizards of the Silicon Forest. Great profiles of what’s being worked on in Portland.
David Heinemeier Hansson:
Groupon has filed its S-1 and hopes to raise $750M in its initial public offering. Given they’re currently losing a staggering $117M per quarter, despite revenues of $644M, they’ll be burning through that cash almost as soon as it hits their account.
At the moment, it’s costing them $1.43 to make $1, and it doesn’t look like it’s getting any cheaper. They’re already projected to make close to three billion dollars in revenues this year. If you can’t figure out how to make money on three billion in revenue, when exactly will the profit magic be found? Ten billion? Fifty billion?
No bubble here. (via Gruber)
Startups: Not for the faint of heart. Pro consulting on the side until your bootstrap revenues are sufficient.
Startup vs. Company. Spencer Fry: “Startups are easy. Companies are hard.” I feel this way too.
My new crazy idea: Startup time. Lauren’s thinking about starting a digital news organization in Porterville, California.
Painless Functional Specifications. Why you should write functional specs, according to Joel Spolsky. Excellent series from all the way back in year two triple zero. Read part two, part three and part four as well.
Why Startups Fail: An Analysis of Post-Mortems. Valuable insights and possibilities to consider.
Building the trunk, first. How Carbonmade made it to where it is today, and why it’s only 1% of what it will be in 5 years. (via Andrew Spittle)
How Facebook Ships Code. Brings new meaning to the phrase “developer-driven culture.”