the second round is the killer

Excellent, excellent post by Galbraith.

Joshua deserves his payout. He's done more for the Internet via memepool.com and geourl and then del.icio.us (essentially single-handedly) than the vast majority of people on the web.

Beware the second round....

David Galbraith - What have successful Web 2.0 companies got in common - they didn't raise too much VC cash.