Over the years I have wondered what makes a good web company.
My conclusion is that it needs to, in some way, come up with a new way to take advantage of The Network Effect.
But today, I wonder if even that can help. The networks, after all, are in place on Facebook etc. So even if you have a great new use of the network effect, building an audience from scratch is suicide. And how can you turn your idea into $$$ when Facebook apps are a dime a dozen?
Monetizing this stuff is getting harder and harder and harder …