Sequoia clones unsuccessful search engine — maybe Google will buy it anyway

Sequoia partner Mark Kvamme just plunked down $31 million on a company he also chairs, called Searchme. It's an image-based search engine. Search is a crowded field but Searchme CEO Randy Adams thinks there's room for innovation. "Search," he told BoomTown, "is still largely a text and list experience." True, but Snap CEO Tom McGovern told me almost the exact same thing in May 2006. Didn't work out for him. Now Snap is a site for bloggers. Below, a video demonstration of Searchme's "innovation" and another video showing two-year-old Snap doing pretty much the same things. More »

Why Demo's conference beat TechCrunch40

Techdirt, the ever-opinionated analysis blog, has weighed in and found Demo's lineup of startups and new products more compelling than last week's TechCrunch40. Why? Mike Masnick doesn't come out and say it, but his implication is clear: Unlike the parade of Web 2.0 one-note-Johnnies drummed up by TechCrunch editor Michael Arrington and entrepreneur Jason Calacanis, most of experienced Demo organizer Chris Shipley's picks were focused on useful improvements to existing technology, not gimmicky new ideas. Arrington and Calacanis launched TechCrunch40 because they felt that it was somehow wrong for conferences to charge startups to present. Nonsense, of course. I think that the fact that Demo charges presenters — reportedly $18,500 apiece — was actually what makes it a stronger event. More »

Remainders: A healthy career in Chinese gold farming

Now playing World of Warcraft can get you a job. Thrilling, really, to discover that a game played by destroying arbitrarily assigned enemies ad infinitum, rising up a ladder until reaching a disappointing top that isn't a top at all, commiserating with socially inept addicts with little life outside the computer, could prepare you for tech work. No, seriously, I am shocked at this news. [Wired] More »

Vindicated: Bill Gross still broke

Idealab CEO Bill Gross scored board approval to make shareholders take over his $50 million personal loan. If shareholders approve, Bill will pay back the cash over the next four years (or find a new sucker to buy the loan). The jet's sold, the Ferrari's sold, but Bill must have some tchotchkes left to make a $50-mil yard sale. More »

Is Bill Gross broke again?

Another would-be Valleywagger does our job for us, with a report that Bill Gross, CEO of Pasadena business incubator Idealab, is still paying for his sins during the dot-com bubble — or, well, his shareholders are. More »