If you can’t solve today’s commercialization problems, find ideas from the past whose problems have been solved by time.

I know this article is not new and has been discussed already, but I want to add my $0.02 for a few reasons: (1) The discussion around it was off-base; (2) I’ve introduced enough background thought that I can quickly post my thoughts.

Morgan is doing something brilliant by going back and reexamining prebubble business plans.

No, he’s not doing it because ideas are now more scarce than execution or some other equally off-base mumbo-jumbo. He’s doing it because there were a tonne of innovative ideas (some amazing, some amazingly stupid) flying around during those years and some start-ups failed due to the lack of execution in the commercialization phase. (Even in Web 1.0 companies failed to down-geek)

So what’s the deal? Well, a lot of the issues to commercializing Web 1.0 companies have been organically removed and the business plans that were great (great product, definite value, etc.), but couldn’t successfully be commercialized, may be investment gems now.

This is not an innovative VC play - they’d be looking to take a more active role in the commercialization phase of Web 2.0 companies - but it is interesting none-the-less.

What can we learn from this? That failure of Web 2.0 ventures doesn’t mean the underlying idea was bad. No, worse. It means the start-up was unable to figure out the puzzle that is commercialization: the founders will have to watch someone else capitlize on their idea in the future; and, even worse, the masses won’t get to enjoy the benefits of all that Web 2.0 can offer until some later date.

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