If you were blogging about tech in September 2005 when tech.memeorandum.com launched, you knew about it and you read it. There was a time when AVC posts would regularly be on Techmeme and AVC would regularly be on its leaderboard. That has not been the case for years but I still read Techmeme every day. It is as valuable a source of news for me as anything else.
Gabe wrote a short post about Techmeme yesterday on its 10th anniversary. There are few things in there that I’d like to react to.
- Techmeme’s original goals were to “1. Recognize the web as editor, 2. Rapidly uncover new sources, and 3. Relate the conversation.” These are awesome goals and made the site what it was and what it is. Techmeme does a better job at number 3 than anything out there, ten years after showing the world how it is done. Sadly they do not do a particularly good job at number 2 and have not for years. Gabe tacitly acknowledges this with this bit “However, as Techmeme became the first stop for tech news for a growing and influential segment of the tech industry, other goals became imperative too. In particular: strive for comprehensive coverage of the day’s most significant tech stories, and post big, breaking news story quickly.” I can get the “big breaking news” anywhere and don’t value Techmeme for that. But I understand that others do and frankly Techmeme can and should do whatever they think makes for the best site for the largest audience. But I do miss the time when solo bloggers made up most of the links. Those kind of voices are still out there and there really isn’t a great way to find them unless they are software engineers whose links show up on Hacker News.
- Techmeme survived each and every effort to supplant it. Gabe writes this “Later the phrase “Techmeme Killer” would appear fairly regularlyin headlines, most notably when Google itself introduced a would-be “Techmeme Killer”. Even after Techmeme survived Google’s Techmeme-killer, services like ePlatform and TechFuga would still elicit comparisons to Techmeme, while TechCrunch would later say of Tweetmeme, a Techmeme-like aggregator of tweets “If I were Gabe Rivera, I’d start worrying now”.” I’ve ranted on this before but nothing annoys more than the “xyz killer” headline. The fact is that that supplanting a category creator and market leader is not easy, as much as the media would suggest that it is, and Gabe and his team have done a terrific job of continuing to produce a great site day after day, year after year.
- Techmeme has never taken outside investment, allowing them to run the business as a “cashflow business” that creates a good living for the team. Gabe says this “I always hoped it would be possible to build and sustain Techmeme without the aid of venture capital or debt. Not so much because of real or perceived issues around independence or autonomy, not because “bootstrapped” is an impressive badge of honor, and not because I disliked investors (some of my best friends are VCs!) But rather because the media business we envisioned by its nature was just not destined to become the “unicorn” VCs always want, at least in its first of several possible iterations. So proving sustainability always seemed necessarily part of the plan. Moreover, in casual conversations with investors over the years most ideas for expansion suggested to me seemed destined to fail in my estimation (a fate borne out in a few cases by actual companies that carried out such plans).” Most businesses, including many that do raise VC including some we have invested in, should not raise VC. Kudos to Gabe for understanding that and financing his business another way (revenues).
Techmeme is an “internet treasure” to use the phrase my friend Mark taught me. I visit it every day. So do most of the leaders of the tech sector. It’s a fantastic resource and it’s been a pleasure to watch Gabe and his team build it into what it is over the years. Happy 10th anniversary Techmeme.
