Startup.com or How Not to Start a Business

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The movie Startup.com is a documentary portrayal of two friends who try to capitalize on the booming dot com business at the turn of the 21st century. The movie was a realistic view into what has often been called 'market over-exuberance'. It is a story about friendship gained and lost, money squandered, and the American dream shattered…

Introduction


It seemed so easy. Kaleil Isaza Tuzman and his friend Tom Herman would get a massive fortune from venture capitalists, invest it in their Internet idea and be overnight billionaires. That, unfortunately, was the economic philosophy in the late 1990s. Get rich quick was the name of the game. For those without an idea, they could ride the coattails with stock options. As the movie is seen now, the end is so predictable. But in 1999-2000, the audience would have been on the edge of their seat unable to know if they would succeed or fail.
Of course they had to fail. They violated every rule of market economics imaginable on their way down the road to ruin. They had no marketable product. They had done no market research. They did not apply the most rudimentary laws of supply and demand. They never considered that he stock price would seek its true value. They never considered cash flow except for how much could flow through their hands. Any student with average grades in Finance 101 could have made a better run as success than these two guys.
This movie is a lesson that teaches the student of finance that here is more to this business of business than just getting a bunch of money and spending it. There is leadership. Startup.com had no leadership. ...
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