The Kramer test for 'bad ideas': imagine Kramer explaining to Jerry why he just invested a bunch of money in the company ("but Jerry - it's an alarm clock... AND it's SOCIAL!"). If it sounds like something he might say, then it's probably a bad idea.
To sleep.fm guys: not trying to offend, I genuinely think it's a bad idea.
To those who were in elementary school when Seinfeld was on: damn kids:-)
The thing is, Kramer had some decent ideas. Particularly hiring an NYU student as an intern for Kramerica Industries. Easiest way to get a personal assistant ever.
Brad Feld likes to say finds the diamond in the turd. Meaning to pull out the one or two good ideas and focus on those. When you said turd, it reminded me of that.
sleep fm would be better if they made a decent video (browser area only), removed the stylesheet (the interface is horrible) and lost the sleep fm 'loves you' type impression. Its a utility.
It could be useful if they streamlined it and marketed it without the corn :P
Actually, I really like this idea, though this implementation might be a bit rough. Making this an iphone app, which would be your alarm clock, might be better than having your laptop next to your bed.
And like youtube there could be top rated wakeup messages and bedtime stories. It could be a passive voicetwitter that helps you in and out of your day.
Everywhere sleep.fm is mentioned on HN, you are around. It is funny that although it is a bad idea to you a few thousand people like it enough to go back to use it everyday. Not a lot of startups can claim those numbers.
So that's what business is for you? Are you making a product for yourself or for investors? Why should I care what investors care about - I'm trying to make a product for users, and not for investors. A few thousand people following my product is EXCELLENT, because out here in RL, a thousand people are not following me.
You have the wrong attitude if you are only focused on what investors want.
Check your Compete toolbar when you visit their site.
Plus it is a steady traffic which tells you that every single morning someone is woken up by the social alarm clock.
EDIT: To answer your other question, I am not a co-founder, but looking at pure numbers they are doing better than my last two trials and those of a lot of us.
