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NextNY Discusses BizDev2.0

298538923_e1fa2fb9de_m.jpgI attended a community conversation on BizDev2.0, the implications for the business development profession in a world of simple syndication, mashups, open APIs for data sharing, and bizdev implementations that never require explicit permission. There were a number of industry professionals in attendance as featured speakers: Fred Wilson, Tina Sharkey, Chris Fralic, Katherine Levine, and Zia Daniell Wigder. The rest of the attendees were members of NextNY, a young tech entrepreneur-oriented group of New Yorkers.

The quality of conversation was generally high. It started with focused questions by the mediators directed at the featured speakers, but quickly snowballed into an open discussion that broke down the barriers typically found in panels between featured speakers and other attendees.

I’ll try to paraphrase some of the more salient points of the conversation, but I apologize in advance to those who attended the event because I will likely fail to give proper attribution, and I may butcher a point or two.

  • Chris Fralic, when prompted by Fred Wilson, talked about how traditional BizDev still plays an important role in young startups because it is a great way to initiate the acquisition dance with a large company. For example, it’s a great sign when a big company brings in the CorpDev guy to a BizDev meeting with a young startup.
  • Seth Goldstein mentioned that as individual users see the content they generate get monetized and sold (think: delicious bookmarks and digg links), they are going to want BizDev relationships of their own to see a piece of the money that their content drives.
  • Katherine Levine has seen BizDev relationships from both the perspective of both the little guy (TheFind.com) and the big guy (The New York Times), and she thinks that this new form of lightweight, mashup BizDev benefits both big and small companies because it enables new distribution channels and access to more content with hardly any overhead.
  • Charlie O’Donnell pointed out that the ideal BizDev deal for a young company with a giant, like MySpace, is to be ignored. He wants to do a deal to ensure that he doesn’t get shut off the way MySpace shut off YouTube (temporarily).

There were many other interesting points, but the whole event is started to blur together in my mind.

Eventually, the whole conversation turned into a “Are we in another bubble?” discussion, which was equally engaging, and I always like a good digression. The concensus was that yes, we are in another bubble. But, when this one pops the damage will be minimal because only private equity money is getting tossed around, not public money. Plus, this time around there is a significant investment in online advertising by Fortune 500 companies instead of just dot-coms spending their VC seed advertising on other dot-coms.

NextNY is totally open for participation (there are no dues or anything like that), so if you’re a techie in NYC looking for other techies chat with, both formally and informally, then drop me a line and I’ll point you in the right direction.

Update: Fred posted on this subject too.


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