Archive for June, 2007

It sounds almost cliche to say it, but there could not be (at least I think) a more simpler mantra to follow in the product development world to ensure that you are creating the absolute best product that you can. Take a look at some of the most successful web products going right now, and I would venture to guess that everyone from the receptionist to the development team to the head chief is living and breathing that product on a daily basis. Why do they do this? Simple, they are not only building the product, they are part of their target demographic of users, in essence, they are one of them.

Take a look at Facebook. I have heard stories (cannot confirm them since I have not had the pleasure of visiting their digs) that the office where the developers are is like a frat house. There are hammocks everywhere, various toothbrushes in the bath rooms and people running around in flip flops and shorts. Imagine that, the same sort of scene that you would see on any given college campus nationwide. These guys live and breath their product, they use it on a daily basis, they are part of the community that uses it. It is no wonder that Facebook continues to come out with cool features, they have part of their community right there, in house.

Why is it then that companies have the greatest intentions for products and then fail to own up and eat their own dog food when they launch the product? Is it that they lost faith in the product? Is it that they had the wrong team assembled to build and deliver the product? Is the company on a whole focused on too many products that it cannot afford to be laser focused on one thing? Whatever the reason, without fixing it, it becomes increasing harder to compete with those who do eat their own dog food.

So I say to you, if you are eating your own dog food, good for you, you are well on your way to being a leader in your space. For those of us who are not, start eating!

This post kind of struck me as odd “Lending Network Prosper Raises $20 Million“. I just found it a bit oxymoronic that a company who is in the business of lending money (OK, not actually their own money, but they facilitate the lending of funds) would actually be raising funding for themselves. Maybe it is just me, but it seemed a little funny.

In all fairness, Prosper has done quite well for themselves, and this is actually their third round of financing. I have taken some time to use the site, and find their offering to be compelling. They do offer a way for the average person who needs to borrow a bit of money to pay off student loans, credit card debt or even buy a car can set up a profile and investors can basically bid on different loans to make and can set their own interest rates.

It seems as if some people have found a way to leverage the site in a way that perhaps the folks at Prosper had not intended it to be used for. Some people are using Propser as a way to diversify their investment portfolios, basically lending money to individuals while usually getting a 10-15% ROI on their investment. This sure beats some traditional investment methods (CDs or money markets) that produce a much lower ROI.

Nonetheless, it seems that Prosper has come up with something that is both compelling to the investor and the borrower. I guess I am just feeling a little giddy today and found humor in the title of the post. Perhaps my mind is not what it used to be now that I am a year older .