Scratching My Head
A trend is developing and it’s interesting to me.
Bloggers, A-list bloggers, are rasing VC money.
As Rick, a loyal reader, said in an email to me today, "It’s supposed to be affordable to launch one of these things – why do they need big investors?".
I suspect its because Om, Rafat, and the others who are raising VC money intend to turn their blogs into media companies, doing conferences, and developing value added services on top of or in compliment to their blogs.
But Nick Denton hasn’t had to raise venture money and he’s got something like 15 blogs now.
We’ve been hearing this "capital efficiency means we don’t need VCs" stuff for the past two years and now we see the most capital efficient businesses of all (writing in your pajamas and having FM sell the ads for you) turn to VCs.
It’s interesting and worth watching.