It’s easy to forget that Facebook is now over seven years old. In the tech industry’s that’s a lifetime, especially with so many start-ups getting funding and with how quickly one idea can change the way people interact online.
And there are plenty of people trying. A new article at NY Mag takes a deep look at the next generation of Silicon Valley – young 20-somethings who spend entire nights coding, trying to crack that next big hit.
The story hits on the need within the Valley to jump on a hit quickly, otherwise you’ll risk losing it forever. Neglecting revenue for users, these young tech geniuses are focused on getting recognition before they even see a dollar of profit.
“If you have an idea for an app, do it now. Throw it up online. Find an audience. Worry about quality later. Best-case scenario, you create the next Facebook. Worst-case, you try again. Even then, chances are you’ll get a job offer you can brag about rejecting,” author Christopher Beam writes.
“Right this minute, Silicon Valley is America’s opposite: House prices are soaring and demand for young talent far outstrips supply. The ongoing cyberspace race between Facebook, Apple and Google, among others, means computer engineers enjoy more freedom – and power – than ever before.”
Much of the story focuses on the need for constant coding, which is what a lot of these entrepreneurs actually spend their time doing. Just as Mark Zuckerberg stayed up all night to code the first “Facemash” site, these programmers do the same with their own ventures.
“Pleasure comes with pain. You code for hours, you run the program, it fails, you debug it, run it again, pass out on your keyboard, wake up, code some more.”
The story also focuses on how lucrative Silicon Valley can be right now, despite a downturn that is threatening to throw the United States back into another recession. House prices are high, salaries growing at above national wage levels – things are good in California.
Especially if you have a good execution – not just a good idea.
“If 10 people have the same idea for a piece of software, the one who succeeds will be whoever launches it fastest, then iterates as quickly as possible.”
As the internet becomes more of a necessary tool for work and recreation, the issue of download speeds becomes even more important to discuss as urban areas enjoy higher speeds than rural towns.
While this problem is occurring in Australia, and is at the heart of the National Broadband Network debate, it’s also happening overseas.
A New York Times piece looks at the disparity in speeds in the state of Idaho, which has some of the slowest speeds in the country. One business owner even laments that he suffered downtime when bears attacked the signal towers.
“They said that bears had been rubbing against the towers,” Barry Ramsay told the publication. “These are the kind of problems you probably don’t have in an urban area.”
The piece is a good reminder that while many city dwellers enjoy good speeds, many in rural areas aren’t so lucky.
There’s been a lot of discussion lately regarding Apple’s new chief executive, Tim Cook, and rightly so – the man is stepping into one of the most coveted positions in the tech industry, with the company continuing to dominate.
But who is the man behind the man? This new article in Fortune takes a quick look at Jeff Williams, Apple’s senior vice president of operations.
While Cook may be seen as the executive who finally fixed Apple’s supply problems, Williams is the man who keeps everything running smoothly, organising supply deals and overseeing manufacturing.
The article reveals some interesting tidbits, including that he still drove around in a Toyota with a damaged door even after he had been promoted to management.
“Those who know him say he’s even-keeled and direct, a good coach who will go over a problem with employees, explain what they need to do better, and move on.”
“Williams has done a lot for Apple, all of it behind the scenes, such as his work on a deal to prepay suppliers like Hynix some $1.25 billion for flash memory, a move that helped Apple launch the Nano.”
The article is a good look at Williams, who will have to fulfil the gap Cook leaves behind.
There’s been a lot of talk lately about the daily deals industry, especially as Experian Hitwise data recently showed that traffic to group buying sights fell by 25% over the American summer.
NextView Ventures co-founder Rob Go recently wrote on Fortune that while the business is still going great guns, there are plenty of problems – and market leaders such as Groupon may be too far along to realise the solution.
Go’s idea is that a sustainable business can exist in this market, but that it would need to change from how companies like Groupon and LivingSocial are doing business.
“My armchair observer’s view of this business is that there is a massive and truly enduring company here. But it would look a little different. Net revenue/gross revenue would be in the 15% range, as opposed to the 30-40% range that is currently enjoyed by the market.”
“This is a rational amount that is consistent with other affiliate marketing programs. It also allows the small business to potentially make money on the sale, or to increase the average value of the coupon to make it more enticing. I think you’d also see smaller discounts and much more targeted offers.”
The piece is a good look at the current troubles facing the group buying industry, and provides some hope for smaller operators that one day they may be able to gain scale and challenge some of the established market leaders.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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