"...I don't think it is terribly relevant to today."
This article is relevant because little has changed (from an outsider's perspective) since May.
Imagine if you were a VC. One of your portfolio companies is deeply behind revenue milestones, user acquisition rates are slowing, the potential sources of big revenue never panned out. And you can't even change the CEO because you don't have board control.
Fast forward from May to now. What has Facebook done? Raise $100mm more, add comments to the newsfeed, start the fbFund competitions, and other things that do not visibly address the revenues problem.
I'm really hoping that Facebook solves the revenue problem before they run out of cash, but at this point I am doubtful.
This article is relevant because little has changed (from an outsider's perspective) since May.
Imagine if you were a VC. One of your portfolio companies is deeply behind revenue milestones, user acquisition rates are slowing, the potential sources of big revenue never panned out. And you can't even change the CEO because you don't have board control.
Fast forward from May to now. What has Facebook done? Raise $100mm more, add comments to the newsfeed, start the fbFund competitions, and other things that do not visibly address the revenues problem.
I'm really hoping that Facebook solves the revenue problem before they run out of cash, but at this point I am doubtful.