Boston VCs Grok Social Media—So Can We Please Not Tell That Facebook Story Anymore?

5/12/09Follow @bbuderi

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Bob is Xconomy's founder and editor in chief. You can e-mail him at bbuderi@xconomy.com, call him at 617.500.5926. Follow @bbuderi

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  • Luca

    That would be Fred Wilson of Union Square Ventures, not Fred Williams of Union Square Bank.

  • http://www.xconomy.com/author/bbuderi/ Robert Buderi

    Very sorry–fixed, thanks

  • http://www.dailygrommet.com/ Jules Pieri

    I am happy for any progress on advancing the Boston locus for social media and consumer internet enterprises. The list in the article is a good start but it’s still relatively anemic, considering that half of it is more social media infracture, and not consumer facing. At the end of the day, we are all consumers (politicians, policy makers, investors, employees, and entrepreneurs) and the best way to grab mindshare for social media innovation is to create meaningful consumer facing businesses. To build the kind of experiences to which people become deeply attached.

    Although it is not social media-based, Zipcar is one of our best local consumer internet examples. I like CarbonRally too, as a very young example of local social media-fueled innovating company too. Care.com and RunMyErr come to mind as well. We have to broaden our definition of social media to include the innovative use of those behaviors, tools, and technologies. Not just the creation of platforms and infrastructure/analytics around social media.

    Anyway we need more, more, more in Boston, and much of the onus and opportunity lies within the investor community–to get out of its comfort zone. So few investors have really done consumer and social media in their careers. It’s understandably hard for them to trust even deeply experienced teams in these areas…it’s such a scary black box to investors. Success in consumer facing-enterprises can’t be driven entirely with dials and levers–it takes insight and confidence too. Social media does, however, offer amazing customer engagement and acquisition tools to make consumer businesses profitably scale in very new ways. That’s the real opportunity in social media.

  • Jules Pieri

    Oops…typed too fast. Meant to type RunMyErrand.com I erred.