Some people can’t stop thinking about food. Bill Gross can’t stop thinking about new businesses. One of the world’s great serial entrepreneurs, he’s launched more than 50 startups through Idealab, his incubator in Pasadena, Calif. His track record includes both winners (CitySearch, Cooking.com, NetZero/United Online) and losers (eToys, Eve.com, Free-PC). But he’s best known for inventing the pay-per-click advertising model behind Overture Services (formerly GoTo.com), the pioneering search engine he sold to Yahoo! in 2003 for $1.6 billion.
Now, after more than a decade of launching dotcoms, Gross has rediscovered the pleasures - and profitability - of the physical world. Idealab’s current lineup is crowded with companies that make actual products: robots, 3-D printers, electric cars, rooftop solar collectors. As Gross puts it, he’s much more interested today in “atoms businesses” than “bits businesses.”
“Well, one of the things we learned is that you definitely want to have first-mover advantage. It’s always great to be first when you have a new idea that is a potential game-changer. But you also want to have the “last mover living” benefit - meaning that if you just go first, if you’re way too early, you’re not going to make it until the market catches up to you.
So I think the biggest lesson we’ve learned is that you need to find a way to raise enough money and spend it slowly enough that you can stick around until everybody catches on to your idea. The race is not to run out of your money first - it’s to be there at the finish line,” Gross says.
Read more.
Photo by Michael Kelley.
Caroline Rhoads on October 28th, 2007 at 3:00 am
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Caroline Rhoads on October 28th, 2007 at 3:02 am
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hafiz on October 28th, 2007 at 4:43 am
tq for the lesson.
Simon on October 28th, 2007 at 3:55 pm
The Bill Gross article is indeed an inspiration for the rest of us. I have been making good money online now with free offers. It takes perseverence and constant analytical judjement, from my experience, to make it work!
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Caroline on October 28th, 2007 at 6:27 pm
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