burningmoney.jpgIn his "Getting the UnParty Started" post, Mike
Arrington announced that Seesmic, a company that raised $12
million with no business plan whatsoever, is laying off seven
people--more than a third of the company.  And I'm not being
unfair when I say they have no business model...  that comes
straight from the founder, Loic LeMuir, who commented on Mark
Evans' blog by saying that even though his traffic is growing,
"It does not mean I have a business model."  Are we supposed to
believe this is environmental?   It's not.  This is the specific
case of a company that lacks a business model, isn't a new idea,
and one that got overfunded.  It got funded by Valley VCs? 
Really... you're kidding me?   Let's compare Seesmic with New
York City-based Paltalk to show why we shouldn't act like
Seesmic's layoffs are the End of Days...   Sure, there's
definite trouble in the economy, but the extent to which people
are telling that the sky is falling and the fact that "Silicon
Valley woke up to the fact that s