The New York Times looks at the new, more fiscally conservative, approach to launching a tech venture today.
Unlike most companies formed during the first Internet boom, which were built on costly technology and marketing budgets, many of the current crop of Internet start-ups have gone from zero to 60 on a shoestring.
“V.C.’s hate it; they want you to take big money,” said Jay Adelson, who is the chief executive of two start-ups, Digg and Revision3.
“I came to the conclusion that $500,000 was the new $5 million,” said Michael Maples Jr., an entrepreneur who created a $15 million venture fund aimed at investing in companies that required little capital.
If you’re interetsed in starting a company or working for a startup, you might enjoy Seth Godin’s The Bootstrapper’s Bible.
