Monitor110 jumped onto the investment technology scene in a big way. Its backers and proponents took the audacious task of attempting to create a huge content system that would enable investors to monitor the increasing content with investment value that is the Internet. With backing from Roger Ehrenberg, some big names on the BOD, and a big raise behind it, Monitor 110 ceased ops today.
Roger has a great post today with good personal insight into what went right and ultimately, what went wrong.
Roger lists 7 deadly sins that ultimately did-in Monitor 110:
- The lack of a single, “the buck stops here” leader until too late in the game
- No separation between the technology organization and the product organization
- Too much PR, too early
- Too much money
- Not close enough to the customer
- Slow to adapt to market reality
- Disagreement on strategy both within the Company and with the Board
Read more on his experiences here.
I guess what I’m left with is that there is still a tremendous opportunity in the ex-Bloomberg/Reuters world of alternative information. Accoding to Ehrenberg, “The market for alternative information and tools is very, very challenging, and the current market environment isn’t making it any easier. But there are clear needs out there that should and will be addressed. I will write a post on the alternative information market at a later time. Thanks for listening.”
My ears are open, Roger.
