Tech Brew Ride Home (IHP) TheGlobe.com Saga Part II
Dec 31, 2023
Stephan Paternot, co-founder of TheGlobe.com, shares his wild journey through the dotcom boom. He reflects on the exhilarating highs of startup life, including a pivotal meeting with a wealthy investor and the competitive landscape of early online communities. The emotional rollercoaster of preparing for their IPO reveals tension and excitement. Paternot also dives into the intricacies of managing a billion-dollar tech company and the pressures that come with rapid growth. He emphasizes the importance of reinvention after such a thrilling ride.
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NYC and Funding
- Stephan Paternot and Todd Krizelman chose New York City for TheGlobe.com due to its diverse talent pool and advertising opportunities.
- They secured funding from Michael Egan after a banquet lunch at Cornell, where Egan initially offered $5 million but eventually invested $20 million.
NYC Tech Scene
- The New York tech scene in 1997-98 felt like a sideshow compared to Silicon Valley, with more imitators than innovators.
- Paternot found it to be very fake with a lot of fakers and posers.
User-Generated Content
- TheGlobe.com's value was user-generated content, an early form of social media.
- This was out of necessity due to limited resources, unlike content-rich sites like Wired.