The genesis of Bearonbusiness was to share stories about the Telecom Boom, Telecom Meltdown, and the Telecom Resurgence. What did the young bucks from the late 1990s learn? Now that we have another chance, will we repeat mistakes or will the industry be stronger due to the lessons learned? Via Brad Feld’s blog, I stumbled across a very good story from the Telecom Meltdown era.
Alexander Muse started a company called LayerOne in 1999. In his Texas Start-Up Blog (which I am adding to my Blogroll), he posted How I lost $20,000,000+ in 18 months!. I appreciate that Alexander shares this story, especially the emotions he felt long after LayerOne I failed.
Alexander, perhaps you could share a bit of specifics about the business plan and the execution. What did LayerOne set out to do? Do you believe the business plan was fundamentally flawed, or do you believe execution was the problem? With the benefit of hindsight, is there a way that the original plan could have been pursued and, even in the face of the meltdown, have done well? What execution mistakes were made?
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