We had the panel discussion on consumer services this morning. It saw some key features of Internet and mobile based consumer industry being discussed. Here are some sound bytes from the panelists:
Sateesh Andra, venture partner, Draper Fisher Jurvetson: “When it comes to monetization, you need to have a clear answer – what, when, how much. Just saying we will go for advertising or subscription alone does not help”
Venki Nishtala, CTO, Rediff.com: “Cannot go on to make yet another IM. We have plans to offer a viral type application. If it is a disruptive idea, other people should be willing to share information.”
Hrush Bhatt, head of product engineering, Cleartrip: “Don’t fall in love with tech for its own sake. Keep it as simple as possible for both back end and the front end. Never be afraid of hiring someone who is smarter than you.”
Devesh Garg, Managing Director, Bessemer Venture Partners: “Think always about the market. Technology can only take you so far. In the long run you will always need to be business minded.”
About the author: Arpit Agarwal is a compulsive BarCamper and blogger. He is also a software engineer currently based in Mumbai and was one of the key forces behind the revival of BarCamp Mumbai last year.