— Mercury News | 07/10/2002 | Bad VC market a good time to start a company
Wireless technology could be the next launching pad, says Graham Watson, a managing director at Deloitte & Touche Corporate Finance.
“It’s been much maligned and suffered badly, but wireless infrastructure is one platform out there that could be a catalyst for a really significant business opportunity,” he says. “Mention wireless or telecom today, and everyone runs a mile. That’s a legacy of the overinvestment from two years ago. But wireless is something that has massive appeal to individuals and corporations. There’s still a huge scope to grow the wireless industry.”
Could be, but VCs are still pumping money into wireless companies whose founders have no track record with PC networking generally; that money’s going nowhere. Instead of trying to build the next Cisco, they should be trying for the next 3Com. Believe me kids, Cisco’s not going away anytime soon.