http://theequitykicker.disqus.com/Nic Brisbourne’s view from London on venture capital and exploiting change in technology and mediaenWed, 27 Sep 2006 11:24:35 -0000http://www.theequitykicker.com/2006/09/26/web20-investment-spiralling-upwards/#comment-4455063<p>Thanks Max. "Huge gains may well accrue to the winner in each category" - agreed - you need to be backing market leaders.</p>nicWed, 27 Sep 2006 11:24:35 -0000http://www.theequitykicker.com/2006/09/26/web20-investment-spiralling-upwards/#comment-4455062<p>I share your concern about the sheer number of similar projects. Not only that, but most of these ventures have only rudimentary revenue models, all of which rely either on eyeballs looking at adverts or browsers wiling to subscribe/pay for a transaction. This means that -- unlike selling software into the enterprise market -- huge gains may well accrue to the winner in each category, but the tail of losers will be very long indeed...</p><p>Fred Wilson puts it well in his blog note on the Long Tail of Venture Deals: <a href="http://avc.blogs.com/a_vc/2006/08/the_long_tail_o.html" rel="nofollow noopener" target="_blank" title="http://avc.blogs.com/a_vc/2006/08/the_long_tail_o.html">http://avc.blogs.com/a_vc/2...</a>.</p><p>Max</p>Max BleylebenWed, 27 Sep 2006 08:44:47 -0000