Mathew's comments - Latest Comments in Kawasaki: How I wasted $12,107 on Truemors

Re: Kawasaki: How I wasted $12,107 on Truemors

shanti braford — Thu, 07 Jun 2007 23:28:08 -0000

While I generally agree with your sentiments, $12k is not much to blow on a site in the grand scheme of things.

While $30-million Web 1.0 launches are a thing of the past, there are still companies in the valley burning through $1-3 million on totally unproven ideas.

I love seeing some startup raised $300-500k and their Alexa ranking still hovering at 100,000 six months later, while stuff I knock out for fun on the side sits pretty at Alexa 20k or higher.

Re: Kawasaki: How I wasted $12,107 on Truemors

allen stern — Tue, 05 Jun 2007 23:10:23 -0000

Sam - that's Robert NOT Guy!

I wonder how many people make that mistake to Guy's favor.

Re: Kawasaki: How I wasted $12,107 on Truemors

Sam_Odio — Tue, 05 Jun 2007 22:34:43 -0000

Guy's "rich dad, poor dad" books changed my life. If he is as successful with Truemors as he is with his publishing career all the nay-sayers will be crying in their beer.

Re: Kawasaki: How I wasted $12,107 on Truemors

Cale Bruckner — Tue, 05 Jun 2007 17:47:22 -0000

From the source "The plan is simple: Get a site launched in a few months, see if people like it, and sell ads and sponsorships (or not)." -- Guy

Guy does a pretty good job of describing his intentions.

Re: Kawasaki: How I wasted $12,107 on Truemors

Mathew — Tue, 05 Jun 2007 13:56:12 -0000

Just for the record, I think it's great that you can get your ideas onto the Web cheaply -- and if that's all Guy meant to say, then I agree.

But it seems to me he was saying something more -- i.e., that he was able to create a *business* for only $12,107. The only problem is that I don't see any sign of Truemors being a business (which I guess you could say about lots of other Web 2.0 sites too).

In that context, it's hardly surprising there's no business plan -- there's no business. A fun experiment? Fine. But that's not what I took from Guy's post.

Re: Kawasaki: How I wasted $12,107 on Truemors

Jeff — Tue, 05 Jun 2007 13:44:26 -0000

Good post, but I think you missed the point. The point is to give others hope that, hey, you don't have to get VC backing to get an idea out of your head on onto the web, you can do it with a credit card or savings account. I think it gives hope to many people out there. BTW, I am having more complex site than truemors (not hard to do) built right now, and it's only going to cost me approximately $15,000. So it can be done.

Re: Kawasaki: How I wasted $12,107 on Truemors

TK — Tue, 05 Jun 2007 12:54:52 -0000

I don't see anything wrong with launching a fun time-wasting site. Half the Internet falls into that category. Twitter, MySpace etc.

Half of Guy's $12k went for legal fees. Given his profile and the type of content on his site (unsubstantiated rumors) that was a prudent move. To compare how much you spent building on a SITE vs. how much Guy spent on his BUSINESS is not a valid comparison.

Lastly, it's Guy's money. He can spend it any way he chooses. It's no skin off my nose.

Re: Kawasaki: How I wasted $12,107 on Truemors

Aaron Farnham — Tue, 05 Jun 2007 11:42:19 -0000

There is one positive thing I can see coming out of this for Guy. He now has a realistic perspective of what it takes to start a "web 2.0" company and can be a better adviser to the companies his VC firm funds. I think that kind of experience is worth $12,000 if you are in the same financial position as I assume Guy is in. Even if it is not a brilliant service (it is not), I bet the value for Guy is very different than what we think it is.

Re: Kawasaki: How I wasted $12,107 on Truemors

Justin — Tue, 05 Jun 2007 11:27:30 -0000

You read Guy's post and took away what you saw in it, something to write a post about yourself. I took away something else, I saw a guy who just did something, is currently sitting back and looking at what he got together, how little it cost him and how easy it was to get traffic. It's pretty obvious he's not into back slapping himself on a great idea that will change the world. It's satisfactory in it's execution and will show up the underlying idea, $12,000 is an easy number to flush down the toilet if it doesn't work out. Compare that to some of the dumb stuff that has and is still going on in Guy's, valley, VC marketing chatter filled world. Some folks are taking seven figure 1st rounds and only just make closed beta before the burn rate bites them, with a big number on the board already nobody wants to flush it, so they come through with a second and third big round and burn some more before folks figure it's a sucky product and do the flushing themselves... $12k sucky ideas get flushed, $1.2m sucky ideas get bought.. I think Guy made that point, or rather had all you guys make it for him.

Re: Kawasaki: How I wasted $12,107 on Truemors

Ryan — Tue, 05 Jun 2007 10:59:26 -0000

I thought all that was part of the joke - that here was this relatively dumb idea that he could get people to make a big deal out of for the low low price of...

Re: Kawasaki: How I wasted $12,107 on Truemors

Christopher Walken — Tue, 05 Jun 2007 10:46:18 -0000

Totally... agree... I put my own take on... my new... blog.

Re: Kawasaki: How I wasted $12,107 on Truemors

MeTheGeek — Tue, 05 Jun 2007 10:22:20 -0000

Oh, another thing; this reminds me of a sure way to become famous on the Internet (taken from a tv ad from Argentina):

"Get a last name that spells like a dog's breed"

Me thinks motorcycle brands also apply.

Re: Kawasaki: How I wasted $12,107 on Truemors

MeTheGeek — Tue, 05 Jun 2007 10:14:55 -0000

Interesting opinion Mathew.

But I wouldn't underestimate the value of the enterprise. I bet that "just because it's Guy's" will earn well over 12K.

The level of traffic he generated is enough to sell the domain for at least that money.

Nice blog.

Re: Kawasaki: How I wasted $12,107 on Truemors

Ken Barker — Tue, 05 Jun 2007 09:54:09 -0000

I read a post like Guy's and I cringe. It is very easy to waste money building crap. Creating a real site with real business value is still a significant effort. Not nearly the effort of the 1999 era...

Also, this adds fuel to the fire to all those people who have a small savings and think they can make it big on 20K. I don't mind building site for these folks. I would rather build sites for people with real vision and resources.

Re: Kawasaki: How I wasted $12,107 on Truemors

Zolar — Tue, 05 Jun 2007 08:31:42 -0000

Matthew,

The web jargon was tongue-in-cheek. Laugh a little my man. I think Guy has done well for himself. Truemors is an interesting concept. Execution may have been poor. I admire Guy for his willingness to try something -- much like the philosophy he espouses in Art of the Start.

Re: Kawasaki: How I wasted $12,107 on Truemors

Ells — Tue, 05 Jun 2007 08:21:45 -0000

I guess to me, it seems like a lot of people are putting their own expectations for the success of Truemors onto Guy. I mean in the first link alone, he talks about it being mostly an experience rather than the next big thing. I think he probably accomplished what he wanted.

Re: Kawasaki: How I wasted $12,107 on Truemors

niels — Tue, 05 Jun 2007 07:10:39 -0000

True! The website he spent 12k+ on is pure and utterly crap! The whole consept seems to be spam inviting.

Also I hate the whole "web 2.0" claim, when it all seems to boil down to a simple forum?!

Re: Kawasaki: How I wasted $12,107 on Truemors

qikki — Tue, 05 Jun 2007 06:44:43 -0000

What's really sad is that he can't just come out and admit that the whole thing is a sad failure. Honestly, the number 1 rumor is a 'test post', and this is days (weeks?) after he's launched it. The other posts are mostly just clever spam. The alexa traffic graph says it all: it's an ant hill.

Re: Kawasaki: How I wasted $12,107 on Truemors

digg this! — Tue, 05 Jun 2007 04:00:26 -0000

I disagree with you, I found that article very interesting. Basically, any web2.0 idea that doesn't include a sophisticated design or back-office, can be done using in about $15,000. But the article was very helping in describing the steps, the basic needs and the steps you'd need to take.

Re: Kawasaki: How I wasted $12,107 on Truemors

Venture Itch — Tue, 05 Jun 2007 02:06:17 -0000

I bet Truemors will turn profitable the very first month. I agree that reading sites like twitter and truemors is exciting as watching drying paint, but if they appeal to some audience they have right to exist. Truemors owes its success to publicity surrounding Guy - I see nothing wrong that Guy exploited that effect.

Re: Kawasaki: How I wasted $12,107 on Truemors

Allen Stern — Tue, 05 Jun 2007 01:30:46 -0000

Mathew - you and a couple others mention these "two negative posts on tc" - can you point me to them? I don't see anything negative so I must be missing it.

thanks

Re: Kawasaki: How I wasted $12,107 on Truemors

webomatica — Tue, 05 Jun 2007 01:21:19 -0000

True, he now has to make at least 12,000 bucks to be profitable. Your site with pligg could do so before Guy's... :)

Re: Kawasaki: How I wasted $12,107 on Truemors

Mack D. Male — Tue, 05 Jun 2007 01:06:55 -0000

I wrote about this today too, I completely agree.

Re: Kawasaki: How I wasted $12,107 on Truemors

Mike D — Mon, 04 Jun 2007 23:29:07 -0000

Amen. I was thinking the same thing: "How I flushed $12K down the toilet." Truemors will be in the dead pool by year-end.