Yahoo buys Tumblr
The news is official, Yahoo buys Tumblr for 1.1 billion.
There are a lot of people up in arms about it for good and bad (mostly bad) reasons. It should be made clear that startups (and companies) are in the business to make money. Startups are built for exits. Sometimes that timeline has a long horizon (IPO). Sometimes they are short (acquired, sold, fold). That’s why investors are willing to invest in them; so that one day they might bring back a large return for their risk.
As much as I love milk tea, Boba Guys isn’t “just for fun”. Our goal has always been to be the very best at what we do and to change the tea game like the Blue Bottles and Philz Coffees of the world have been able to do for coffee. Building and owning your own company is a lot of fun, but we’ve also put in a huge chunk of our life savings and countless hours into it. It takes its toll.
No entrepreneur in their right mind spends a huge chunk of their life building something for free. Money isn’t everything, but it’s certainly part of the equation. How it comes (through advertising, paid subscription, talent/tech/user acquisition) isn’t always uniform but payment is unequivocally rendered. If Tumblr gave me the option to get paid out for putting ads on my site, the left side would be Phoenix College and the right side would be penis pills before you could refresh.
What’s troubling to see is that there is a lot of entitlement towards something we didn’t create. Even worse, there’s backlash when a startup decides to monetize. We saw it happen with Instagram. It’s a free service and it’s awesome! We use the service and we can leave at any time.
One could argue that the services would be nowhere without the users (or early adopters). I would counter that I have acquired far more value from Tumblr, than they have from me. And I’ve been on the service for almost 5 years and paid nothing. When Google Reader decided to shut down, I was disappointed but optimistic that someone would pick up where it left off and make it better because again, I paid nothing and deserve nothing. If I cared enough, I might even build my own.
We live in interesting times..the tools and technology available today enables anyone with an Internet connection to build and deploy anything we want to see in the world. Don’t like a blogging platform anymore? Roll your own. Hate ads? Learn to pay when you receive value. I’ve never bothered to e-beg like Maria Popova but would you be upset if I did?
Every year, I have countless college seniors come by to meet and show me their portfolios, many of which show very good work. Then I pose the question, “How long did it take to create those 12-20 images?” The answer is always the same, “This is my work, which I did over the last year.”
That’s wonderful, but in the professional world, you need to be creating 12-20 AMAZING images day-in and day-out, everyday, regardless of circumstances, since that’s what is demanded (expected?) of you as a professional.-The Value of Experience