Vimeo founder Jake Lodwick was one of the original fameballs who rolled around Gawker's misty past. He's back, having just scored $1.5 million for a new venture that is, well… hm. It's unclear what it is.
It's a sign of our current tech moment's frothiness that the least insane person in the story of Jake Lodwick's new start-up, Elepath, is Jake Lodwick himself, serial internet-quitter, public breakdown-haver, self-rebrander, fameball hall of famer. He's savvy enough to realize that investors are begging to throw money at whatever scheme comes their way, even if there is no scheme.
"I just don't think it makes sense to have a product idea, THEN raise money, THEN build a team," Mr. Lodwick told Betabeat over Gchat last night. "People need to trust each other and build up momentum as a team and once we have that, we can drop everything and focus on a great product idea."
The 2011 tech bubble: Where ideas are overrated.