Monday, 24 June 2013

In praise of Valleywag


 I'm really pleased that ValleyWag is back in action.

After it took few years off, it seems that the tech industry has grown into the gold-plated, smoothie-drinking,  monster that it was towards the end of the last century.

The sort of place where a Facebook billionaire can spend 10 million dollars on a wedding without having to ask permission to tear up portions of redwood forest.

The sort of place where a business like Tumblr can sell for a billion after posting profits of $5 million.

Where the same company can make people redundant on the same day it shows off some swanky new offices.

Burn-rates, sky-high funding rounds, exits and IPOs seem to have become the prime focus for the industry now, and the so-called mavens living at the top of the pile (with their own private bus routes and juice bars) have all but forgotten in the pursuit of the almighty dollar that they need to build a useful or fun product.

So having Sam Biddle and co. around to prick bubble of pomposity is a good thing in my books.

Long may they reign.