Good morning, All,
In case you’ve been on a desert island or in a coma, welcome back, and yes, an app called Yo that was developed in half an hour or so, raised $1 million. Oh, wait, that was last week’s news and update – make that $1.5 million. We know what you’re thinking:
Because now every important notification on the planet can be conveyed in just two letters. Yes, we know: you were promised flying cars and all you got was 140 characters. Well, now, make that two. See? Progress.
In a world gone mad.
Some of the so-called best investors in the industry are behind it, including Mashable’s Pete Cashmore and BetaWorks John Borthwick. What’s the problem? Yo is getting eyeballs, and isn’t that the new bottom line?
We understand that technology is at a point where the barrier to entry has dropped, and with it, it seems, so has our IQs. In an app-crazed, valuation crazed world, we’ve lost sight of the idea of tech being about innovation. Money is, again, being thrown around, seemingly without a lot of thought behind it. We hope we’re wrong, but we’ve read this book before. A few years back, right before the bubble burst.
Why is Yo worth so much? Because it’s only a matter of time before Facebook or some other tech behemoth that’s chasing ‘relevance’ acquires it. It may be a great investment. It may well also be the harbinger of the end of the latest iteration of tech. With all of this attention on eyeballs, we’ve taken our eyes off the road. This is your wake up call. That tap on the shoulder, where you fully rally from that somnambulant state we’ve been devolving into and say,
Right! Onward and forward.