

Fred Wilson: Time Is On Your Side, Yes It Is - jcwentz
http://avc.blogs.com/a_vc/2007/08/time-is-on-your.html

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cperciva
Correction: Time is on your side, IF what you're building is inherently better
than what the competition is building. In the long run, valuations approach
inherent value; in the short term, valuations reflect market sentiment and
irrational factors.

If, on the other hand, you're building yet another web 2.0 site, and the only
thing distinguishing you from the competition is that you're YC-funded and
have a cool name, eventually the market is going to realize that you have no
clothes -- so you should either sell out as soon as possible or work hard on
building something which is superior to the competition for reasons other than
coolness. Google became popular because it was cool; but it stayed popular
because it was technically superior to the competition.

