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Overly Social Technology?

January 1st, 2009 Leave a comment Go to comments

I’m glad to see a bit more variety in the ventures wanting to present at this month’s NY Tech. We still have over half the ventures being related to the social web which I think is representative of the software related startups in town at the moment. Of course most software ventures are more general. Everything from stock control to trading software and it would be good to see a broader range getting in front of the VCs who attend. I was particularly heartened to see TrialX wanting to present. They are “a healthcare information technology startup that is developing a groundbreaking technology to automatically match patients to clinical trials of new treatments.”

I care about this, not because there is anything wrong with social media, but because there are opportunities for technology startups which New York is uniquely positioned to take advantage of. This is not so much in the technologies which are created in relative business isolation purely from an idea but those which are created by lighting fires under elements of the major industries of New York: advertising, publishing, pharma, health and financial services. There are many ventures in these fields which require expertise or integration into business relationships and a New York venture is in a better position to realize success than a startup in the pure technology space of The Bay Area.

In many cases these ventures also have clearer real business models even if they can’t achieve the same number of eyeballs by next Monday. At the moment I would take a plan leading to cash rather than eyeballs every time.

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  1. January 2nd, 2009 at 20:57 | #1

    I agree completely — I think social media is getting ahead of itself, growing larger and larger without stopping to ask itself, “Am I useful?” StockTwits and TrialX both look very promising. In fact, StockTwits is the first Twitter site/app I could actually see myself using…well, besides Twitter. 🙂

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