“He believes that because Foursquare was first out of the gate with check-ins and had tasted early success”
Really? Wasn’t Brightkite and Gowalla established earlier?
Isn’t check-ins just micro-blogging with location? If so, even PalPosition might have been first, developed already 2006, but never commercialized. What a bummer.
Media is quick to call similarish services and apps as copy-cats, while actually this market and its “killer app” is far from explored and exploited yet. There will continue to be a lot of innovation in the future, leaning towards time and place based events and offerings, building revenue.
“there are two things you need to be thinking about”
No, there are three: The most important is to generate revenue.
I wonder why the revenue aspect is always forgotten. It’s as if people think a company can work without it. It can’t. Relying on investors’ good will only goes so far. In this (arguable) Web 2.0 bubble maybe a company can, if it’s acquired before it falls through the cracks in the floor.