Great post from an entrepreneurship blog titled: It’s a great time to be an entrepreneur.
Reasoning: 1. Hardware is 100x cheaper than the late 90s. 2. Infrastructure software is free. 3. Access to global labor markets. 4. SEM marketing.
What does this mean? More innovation because more people can and will be entrepreneurs than at any other time in history. It took $3MM to get Excite.com from idea to launch. JotSpot took only $100K. It is much easier for a budding entrepreneur to save $100K than raise $3MM from a venture capital firm. When you do need outside capital – after you prove out the model – you will get much better valuations.