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This is not a new idea (webjam). But venture capitalists continue to invest millions and millions in “lost” web projects, it’s like the web1.0 fever of the past.
I continue to think, why venture capital invest so big money in something that will not bring return. Is it money laundering? It’s the best explanation that i can find for that.

You know, I believe that very few people really can understand what will be a success and what - not. And investors like similarities of successful projects. They know MySpace is a success, they are shown a new project that somehow resembles MySpace and they are willing to invest. But often when entrepreneurs show something actually innovative, they just can’t estimate it, they don’t know if users actually like it or not. So they still prefer to play safe. Besides, in Europe it is a general trend to copy something that has already be done in the Silicon Valley, they expect the same kind of success by repeating US projects in Europe. The only thing is that the consumer for these projects is global, not local, so why does it need to be repeated aimed at the same users?

Svetlana ouch we don’t copy you guys here in london!! Tim lee is from here did you guys copy him ? just joking ..

Webjam does look like the same ol’s same from the quick read I had and as I attempted to register POW this screen hit me

Didn’t know what else to do but to restart the browser and never go there again

Ooops this is the image

http://img.photobucket.com/albums/v619/prospect/webjam_crash.png

I’m not talking about startups from London, I’m only talking about investors who feel safer with well-tried and tested ideas that usually exist oversees already. And me personally I work from Russia most of the time, that’s closer to Europe than US anyway
And I’m sorry about the problem you had with Webjam, we did not mean to upset you with our post

heheh Svetlana I was just joking dear, Profy is the coolest “web 2.0″ application !!

We did not expect such a position for Profy but thanks anyway

The bug where it was not possible to register has now been fixed.

Please be aware that Webjam is a beta application and there will be some bugs. We would be grateful if you would give Webjam another try soon!

The idea is not new, but it is a culmination of some very good aspects from other sites. I am always looking for refinement in sites. I am not talking about myspace adding a 007 template either.

Webjam has a few bugs to work out yet like virtually every site we have reviewed. The people who inhabit these communities are a large factor in their development, why do you think Joost is staying in Beta so long?

I hope people will join Webjam because I think ultimately they will enjoy the potential and flexibility there.

phil, i agree with that. but the point is, investors employ millions in projects like that, which at the beginning the chances of success are few. It’s just because of “names” and “friends”, don’t tell it’s because of a project, that millions are invested.
If i was to a venture capitalist with a very good project, the chances to get an investment are almos nill.

That is true Jonix to some extent. Many investors are looking for key people and others are following trends etc. I think the best investments are a combination of both really. Angel investors are looking for like 10 to 100 times their investment back and I am sure everything flows according to risk assessments etc.
I appreciate your comments!
Phil

thanks for the post

This is not a new idea (webjam). But venture capitalists continue to invest millions and millions in “lost” web projects, it’s like the web1.0 fever of the past.

I hope people will join Webjam because I think ultimately they will enjoy the potential and flexibility there.

The idea is not new, but it is a culmination of some very good aspects from other sites.