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F'd Companies
Everyone who's visited the author's Web site at least once has probably noticed Kaplan's style of writing -- raunchy humor abundantly supplemented with free use of four-letter words, which is then mingled with frequent references to the author's male organ and Internet pr0n industry. Not that the book loses its charm because of it -- F'd Companies would probably make a poor choice for a kid's present, but after getting used to Kaplan's style of writing the obscenities and euphemisms add hilarity to otherwise dry management text. Here's Kaplan's contemplation on the value of domain name Wapit.com (now defunct):
The company had a cool name though. I love to wapit in the morning when I first wake up with my stiffy, wapit in the stall of the men's bathroom at lunchtime, and wapit before I go to sleep.
The book is full of references to defunct companies, and reader can easily skip the chapters if some companies sound more interesting than others. The chapter names are well-chosen and represent the author's style well. "$100 SHOPPING SPREE IF YOU READ THIS CHAPTER" talks about the numerous get-paid-for-browsing-the-Internet companies, the industry that was pioneered by AllAdvantage.com and supported later by numerous copycats. "Portals to nowhere" talks about such huge money-burners as Go.com and QuePasa.com. The chapter for 'miscellaneous' companies that did not fit any other chapter is titled "I've no fucking clue."
If you look for objective analysis, or used to work for some of the companies mentioned in the book, do not buy it if you consider yourself a sensitive person. Kaplan disparaging remarks are what makes this book a worthy read. Here are some of the selected quotes regarding bankrupt dot-coms.
IHarvest.com: "I don't think I've ever seen a more useless company than iHarvest.com. Actually, I am sure of it. Such a waste."
CalendarCentral.com: "Why would an application service provider like CalendarCentral.com, a site that provides shared, online calendars for group scheduling, go out of business? Microsoft Outlook/Exchange you say? [description of business model that never worked follows] Another one assimilated by the Borg... and Microsoft probably didn't even notice."
OnlineChoice.com: "And this one cost investors around $20 million and employed seventy people. Seventy people. This business, this WEBSITE, could have been run by a SCRIPT. Zero employees. Okay, MAYBE a couple of people to broker deals with suppliers."
SwapIt.com: "So let me get this straight: 1) I send them a CD. 2) They give me useless "SwapIt Bucks." 3) They go out of business. 4) I get nothing. Great, sign me up! [...] I believe this is the only dotcom that actually had people SENDING them product and they STILL couldn't stay in business."
Being a Web developer, Kaplan just goes into fits when talking about the high-cost Web site development. He admits that some sites might be more demanding than others, but any 6- or 7- digit number and above, in his opinion, is just plain ridiculous. Talking about Rx.com, Kaplan is blunt: "This company had $350 million to build a fucking website and market it a little. I mean, if they spent $1 million a year, they could have been around for hundred of years without a single sale." In a two-page rant about high-cost developer MarchFirst.com, Kaplan admits: "Anyway, building websites is relatively easy. That's not to say that everyone can do it, nor that anyone would be interested in learning how. [...] Generally, it's not brain surgery (which I'm assuming is kinda tricky). [...] I'm an idiot and even I was able to build a successful small business building websites. Thing is, we didn't charge millions to build a five-minute CGI email form. That's why we're still around." (Kaplan's agency is PK Interactive.)
By now you should get a feel of the book. It's easy to read, and is sometimes just hilarious, as Philip Kaplan has good-quality sarcasm almost in every sentence. The book would be of interest to tech types, especially those who had been involved in dot-com craze. For serious business types it provides valuable lessons on how not to run a new business. Kaplan's book is a valuable addition to the history of the Internet economy.
You can purchase F'd Companies from bn.com. Slashdot welcomes readers' book reviews -- to see your own review here, read the book review guidelines, then visit the submission page.
What chapter does VA Software appear in?
Trolling is a art,
I mean there's only so far you can pad out the "do X; ???; Profit" troll.
What's in Chapter 11?
Solomon
"Twice half-assed makes an ass whole." --Solomon K. Chang
Did they think putting-in slashdotted companies?
The Boston Globe gave it a "D".
Here's Salon's review: Looks like a "D" to me.
...picking on companies who aren't around to sue his sorry ass. I think I might buy this.
Modest doubt is called the beacon of the wise. - William Shakespeare
This would probably be a fun read, but I can't imagine "serious business types" gaining any insights. Real business people already know you have to have a good plan and a product to make money. Very few of these failed dotcoms had either one and almost none of them were run by anybody with any business sense. Most of them were a couple of college dropouts with a meager knowledge of web site "design" *cough*slashdot*cough*.
I've read it. It's amusing. However, Philip Kaplan's writing is flat out the worst part of the book.
/. posters bought into) is deserving of much more thought and research than went into this little one off, quick buck, mindless catalog of failures.
How many times can you read about a company and have the comments boil down to "they were dumb, they went out of business"? That's pretty much the outer limits of Kaplan's critical and analytic skills. The whole dot-com boom & bust phenomena (which so many
The book gets real dull. Fortunately it's short. Kaplan, next time get a ghostwriter. Heck, how about an interview with megalomaniac ESR on his old essay "musings on sudden wealth" now that VA Linux has essentially gone tits up.
to restore confidence?
As a start-up today, one of the biggest hurdles is getting a potential customer to take you seriously.
Even if you are a sensible start-up, funded out of your own pocket - and even profitable on a small scale - you are tarred with the same brush as the multi-million dollar collapses of two years ago.
I have to work very hard to convince a potential customer that i'll still be here in 12 months time, and it takes human intervention - i've not yet figured out how to do it through the website.
Yah, I can read the "News of the Weird" in the local alternative newspaper every couple of months or so, but the stories about stupid criminals, odd names, and the curious practices extant in certain foreign nations become tedious in the cumulative. So, ANOTHER person with the middle name "Ray" or "Wayne" is a murderer. That's funny-strange; it's not funny-haha.
How long could one read about f'd companies? Are there really that many interesting archetypes? Don't the stories all blend together over time? Is it that successful companies are all the same, but unsuccessful companies are each f'd in their own individual ways?
I've never worked in the Valley, and I am not a web designer, but it seems that the stories of failure would become pretty monotonous after a while. Three hundred-odd pages? Is there enough sarcasm or cuss-words to make the book interesting for that long?
Heck, I'll buy the thing because I like the web site, but I get the feeling I'd save a couple of sawbucks if I just looked through the archives online.
> Here's Kaplan's contemplation on the value of domain name Wapit.com (now defunct)...
Some of these names are ludicrous arn't they? I remember reading lists of these names copyrighted (or whatever) by "branding" specialists just waiting for some fine 200 year old company to come along for a corporate comb-over.
I specifically remember seeing the name "JamCracker" and thinking, good grief, the picture that paints in my head is just not to be shared!
However, somone ponied up: Jamcracker, Inc. - Managed IT Solutions
I'm sure they're lovely people but suddenly I'm not hungry...
"This company had $350 million to build a fucking website and market it a little. I mean, if they spent $1 million a year, they could have been around for hundred of years without a single sale."
I'm surprised that manage to make them as long as two pages with bogosity like that. I mean, I'd have made them a decent site for $100 million . . .
"If being a geek means being passionate about something, then I pity those who aren't geeks." - Pike65
Welcome to Whose Line is it Anyway. Where everything is made up, and the points are so worthless they might as well end in "dot com".
Just about fell off the couch when he said that.
There are 01 kinds of cars in the world. The General Lee, and everything else.
Wow, way to spell Schadenfreude right!
I think the guy takes that Schadenfreude thing way to far. Yes, a certain large percentage of dot coms were based on lousy ideas and served to fall by the wayside. But his website seems to take delight in reporting every business failure and layoff...even with good, old economy companies doing useful things and with decent ideas about keeping income greater than expenses.
I don't think of myself as a delicate flower, or particuarly easily offended, but this guy is really annoying. Maybe I'm bitter, living through two layoffs in two years, but still, the amusement he expresses in these events that really screw with people's lives doesn't make a good regular reading diet.
SO YOU'RE GOING TO DIE: The Comic for Dealing with Death
I'm sorry, but if companies are paying millions of dollars for a 5 minute CGI email script, and you decide your web design business is only going to charge a few hundred, then I have a hard time deciding who's the bigger fool here: the dotcom, or Philip "I'm an idiot" Kaplan.
Charge what the market will bear and don't leave money on the table. Sales and Marketing 101.
What a dull book, these aren't interesting failures.
Now WorldCom, Enron, Tyco etc etc.... those are interesting failures.
We all used to think that
Can't
An Eye for an Eye will make the whole world blind - Gandhi
For a while, Slashdot had a spate of duplicate stories, angering many readers who realized that the "editorial staff" wasn't reading their own output. Now there's this rash of outdated book reviews.
When a company starts fucking up on the basics, they're usually doomed.
Pud gets his book mentioned on Slashdot with an Amazon referral link! That oughta bring in enough money to keep the FC trolls happy for another month!
When: 1/21/2003
Company: PK Interactive
Severity: 20
Points: 120
(25 comments in the Happy Fun Slashdot Corner!)
F'd Servers
PK Interactive files Chapter 7. Last month, Pud got his book promoted on Slashdot's front page on the advice of his salesweasel who told told him bandwith was gonna be too cheap to meter. His salesnozzle didn't tell him when bandwidth would be too cheap to meter. Evidently, not yet. The bill arrived today.
When: 2/21/2003
Company: PK Interactive
Severity: 100 - new hall of fame inductee!
Points: 220
(69 comments in the Happy Fun Slashdot Corner!)
FuckedCompany.com would smell like peas.
:)
Pud was describing a startup that marketed web based smells. (IE a peripheral device that heated small containers of oil) Real useful. Useful as a CueCat.
A browser would see special smell tags and the appropriate oil(s) smells would be released.
When the user hit say Amazon.com, they could smell musty books. Slashdot users could smell unwashed bodies and trolls.
I always trust a reviewer who equivocates four-letter words, penises, and pr0n with quality sarcasm because he provably still wapits to the lingerie section of the Sears catalog.
Anyhow, F'd Companies was funny maybe in 2000 - 2001. This book is Kaplan's sad attempt to use every last scrap of the buffalo.
I am a virus, put me in your
Example:
Pure genius.
And here you can find "The 101 Dumbest Moments in Business", featuring Steve "Monkeyboy" Ballmer prominently on the first page.
"There are already a million monkeys on a million typewriters, and Usenet is NOTHING like Shakespeare." - Blair Houghton
The whole era taught us (again), that there truely is no thing as a free lunch. A successful internet company actually has to have a non-internet side of it to be successful, with some exceptions ( namely Ebay, Yahoo, Google to name a few ). You can't just start a internet business in your basement and expect the money to come rolling in.
You also have to be able to sell something online that someone would likely buy thru that medium. For example, selling cars and furniture online doesn't work as well as going to the car dealership or the furniture store; it's just not something that we can be comfortable with. And back then, everyone tried to find a way to sell everything possible online; some found success ( ex. books/videos/CDs with Amazon, CDnow, etc ) and some realized it just couldn't be done easily or at all.
This can be extending to advertisement space ( ie banner ads, popups ). This works well outside of the internet ( TV/radio ads, billboards ), but it's value was overrated during the .com era. Paying a website to refer someone to some other website was predicated on the idea of that person actually buying something there, which never really panned out as they hoped (ie Web Site Visitor != Web Site Customer). Then to make things worse, a company solely built around income from such referrals (AllAdvantage.com) was just a ticking timebomb, especially when people figured out the cheats ( I know I did )
Today companies with a large online presence typically have a similarly sized complimenting offline presence. For example, you can go to an Apple store or dealer and buy and iBook, or goto the Apple Online Store and buy one. It seems to be the best bet.
The dot commers are amazing. I was inspired to look up an old company I use to work for. They employed about 12 people total.
They had three sales people, three support people, on tester, one secretary, three programmers. One of the programmers doubled as their sysadmin. The support staff had to work on bugs for Q&A in their time between calls. Advanced Productivity software literally had clients that were some of the biggest lawfirms around.
They made a product. They sold a product. They made money.
The guys who started the thing took out personal loans to keep it going for awhile. He passed out profits back to the employees when times were good. Honestly, if there was a place to be promoted to or a position open when I was ready to go on I probably would have never left.
Small companies can survive in the IT world. They just have to have half a clue in their heads to do it.
Fill a niche, concetrate and expand along the niche not outside it, keep employee and overhead costs low (their building was nothing grand but I had my own office).
This is basic business stuff that many companies still have no concept of.
ACK
Salon had a great article about the way that names were created (back in 99). The company came up with a name JamCracker that no-one wanted:
It seems that when Altman and Manning presented the name Jamcracker to a client recently, the reception was not everything they had hoped for. "I put the name up in front of their creative people," Manning says. "There were a couple of women sitting in. One of them got up and said, 'Oh, that's disgusting.' Another said, 'This is really sick.' I said, 'Excuse me, what are you talking about?' They said, 'We can't explain it, but that name is just creeping us out. We don't know what it is, but could you take it off the wall, please?'" Manning remains mystified by the incident. "There's apparently some strange, uncomfortable meaning attached to it in the minds of some women," he says. "God knows what that could be."
I was somewhat amused in 2000 when a company started up using that name!
I am not a number! I am a man! And don't you
In slashdot's particular case, I happen to think that the design of their backend is rather inefficient (it was a hack and it seems to still be), their frontend could use a lot of work, their moderation system could be improved upon without much added complexity, their editing is just plain horrendous, their bias spills over unnecessarily in many cases, and what little original content that they do produce is unimpressive at best. In short, they're mismanaged and they're missing out on a lot of opportunity. Slashdot, as it stands today and has always been, is nothing more than some hacked together scripts, some hardware, sloppy editing/administration, and a lot of popularity amongst young techies. It could be much better if they were a little smarter and worked a lot harder.
Stupidity Surcharge: $10,000,000
Total: $10,000,001
Well, at least the company can write off most of that as an "education" expense... :)