A Morality Story for Startups

Path.com is going for the brass ring.  In February this social networking service raised $8.5 million at a $25 million valuation, turning down a $100 million offer from Google.  What makes this particularly nervy, is that Path.com had launched, but had been a yawn.  Dave Morrin, the founder, decided to roll the dice again.  And it appears with the launch of Path v2.0, he has a winner.  The internet/media world is abuzz about the new release, with the cognoscenti signing on in droves and recruiting their friends.

You ask, what is Path.com.  It's a smartphone/mobile app, that is a more intimate FaceBook.  It has struck a chord with people.  Path.com is

 a "Smart Journal" that's with you everywhere you go, posts entries without your effort, combines photo, video, music, people, places and text, and most importantly includes your  loved ones.  Path upholds the expectations for privacy of both the mobile phone, the journal, and the personal network.

What's most impressive is how Morrin has risen from the ashes of v1.0 and seems to have hit a home run.  Jason Calacanis, host of This Week in Startups and CEO of Mahalo, the "knowledge sharing" video website wrote a remarkable blog on Path.com's ugly duckling transformation entitled "Never Give up, Never Surrender" .  He ends with:

If you're running a startup that's an absolute disaster.  If your product sucks and the early adopters have left.  If you've been beat up and dragged through the mud, and if the world has counted you out, consider yourself blessed!

The precursor to kicking ass is getting your ass kicked.

Congratulations to the Path.com team on brushing themselves off and creating, because in life you're either creating or you're waiting.

It's clear from the emotional tone of the blog that Calacanis has been there and lived that movie.