There’s a quite a bit of noise in the blogsphere about the coming entrepreneurship boom, generating yet another pointless debate about the distinction between generations. What is really going to drive this new boom is the ability to find new white spaces, not access resources or connections (people forget that Sergy & Larry had a good idea and connections into the VC network in the Bay Area).

Twitpic is a case in point. Started on a spare server to scratch an itch, Twitpic is a poster child on how to build something new with little or no resources or connections.

• In terms of traffic, Alexa says Twitpic is a top 100 site.
• In 2009, the site did over $1.5 million in ad sales.
• For every million in sales, the company keeps $700,000.
• The site has about 6.5 million registered users.
• Noah, the founder, was recently offered 8 figures for the business.
• There are only 4 people working on the site (including Noah’s parents).

The common point with services like Twitpic and Craig’s List is that this new generation of businesses are creating new white spaces, and that the cost and accessibility of attacking these white spaces is now very very low.

Posted via web from Business-Technology

As always, thoughts and/or comments are greatly appreciated.

• The Evolution of Technology [strategy+business]
  An interview with economist W. Brian Arthur, who’s recent book The Nature of Technology: What It Is and How It Evolves (Free Press, 2009) argues that the value of innovation depends on harnessing the natural progression of shared knowledge.
• Wal-Mart: An example of the next generation of CRM [CRM Outsiders]
  Wal-Mart in the U.K. will allow customers to determine what products they carry in the store via email with digital images and product details sent straight from the manufacturer, in an example of how the merging of e-commerce and brick and mortar locations is breaking down the barriers between the consumer and the manufacturer.
• Government 2.0 case studies from Australia [Centre for Future Civic Media]
  Government seems to be leading the charge in using Web 2.0 tools and techniques to transform the way it operates, and MIT has collected some interesting case studies from Australia.
• How A Spare Computer Became Twitpic, A $1.5+ Million A Year Twitter Success Story – with Noah Everett [Mixergy]
  The cost of innovation has crashed, and a new breed of entrepreneur is using these low costs to create a new generation of solutions in white spaces were not previously accessible.