Caroline McCarthy writes Why the social-media aggregator has croaked. Their downfall was inevitable. It’s no different from the roaring 90’s boom. A grand slam like Twitter inspires thousands of innovation-less entrepreneurial marketers and developers. Pop tech media celebrates the new and hip. Investors get infatuated and pile on.
The business is exposed as a technology with no market. A few lucky ones flip their ventures to the big boys. And everyone scurries like cockroaches to find and gush over the NEXT big thing.
This market froth will be repeated ad infinitum. The online sector has entered an unprecedented era of computing abundance. This is similar to the record industry 15 years ago when technology from MP3s to the web to P2P pried open monopolistic content scarcity and destroyed mass media.
Open source, APIs, high-level development platforms and databases, the cloud, and free services combine to not only make it easy and cheap to create an app, but also lower the competitive bar to virtually nil. You no longer need a company with several employees and a mil in the bank. Individuals and partnerships , not companies, can and are creating valuable services. Look no further than the wild success of numerous iPhone developers.
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